Major trading partners – financial year results

The Northern Territory (NT) is geographically located close to major Asian economies including Japan, China, Taiwan, Korea and Indonesia and, as expected, these are the NT’s major trading partners. The NT also relies on goods imports from the United States of America (USA) and the European Union (EU), which are also identified as key trading partners. In this section, analysis on the NT's major trading partners is provided by financial year, for both exports and imports.

Japan | China | Singapore | Republic of Korea | Taiwan | Thailand | Indonesia | Papua New Guinea | Malaysia | European Union | India | Vietnam | United States of America | Canada

2023-24 Activity

Please note that some of the main items of trade have been confidentialised by the ABS due to sensitivity of specific commodities and limited sources of goods and merchandise, which makes suppliers easily identifiable.

Map 1: The Territory’s Major Goods Trading Partners, 2023-24^{1, 2}

1  Current prices.
2  This map is produced from various sources. Department of Treasury and Finance cannot guarantee the accuracy, currency or completeness of the information. To be used as a guide only.
Source: Department of Treasury and Finance, ABS, International Trade in Goods and Services, Cat. No. 5368.0

Japan

• Japan was the NT’s largest export market with exports decreasing by 21.3% to $6.0 billion, reflecting a decrease in confidential items (likely liquefied natural gas (LNG).
• Imported goods increased 5.7% to $149 million, driven by an increase in road vehicles.

China

• China was the NT’s second largest export market with exports increasing 41.9% to $2.9 billion, driven by increases in metalliferous ores and metal scrap and crude fertilisers.
• Imported goods increased by 50.3% to $218 million, due to an increase in general industry machinery and equipment.

Singapore

• Goods exported to Singapore decreased by 14.3% to $908 million, due to an increase in petroleum and petroleum related products.
• Goods imported increased by 268.2% to $578 million, due to an increase in petroleum and petroleum-related products.

Republic of Korea

• Goods exported to the Republic of Korea fell by 44.6% to $818 million, driven by a decrease in confidential items (likely LNG).
• Goods imported fell by 62.8% to $275 million, due to a decrease in petroleum and
  petroleum-related products.

Taiwan

• Taiwan was the Territory’s third largest export market with exports decreasing by 4.4% to $1.9 billion, reflecting a decrease in confidential items (likely LNG).
• Goods imported decreased by 86.0% to $21 million, due to decreases in other imports and inorganic chemicals.

Thailand

• Goods exported to Thailand decreased by 9.8% to $405 million, reflecting a decrease in petroleum and petroleum products, and other exports.
• Goods imported increased by 11.5% to $146 million, reflecting an increase in road vehicles.

Indonesia

• Goods exported to Indonesia decreased by 30.4% to $355 million, driven by decreases in confidential items (likely LNG) and live animals.
• Goods imported increased from $16 million to $104 million, driven by an increase in machinery specialised for particular industries.

Papua New Guinea

• Goods exported to Papua New Guinea decreased 83.3% to $16 million, reflecting a decrease in confidential items (likely LNG).

Malaysia

• Goods exported to Malaysia increased 40.6% to $225 million, reflecting an increase in petroleum and petroleum related products.
• Goods imported rose by 73.8% to $485 million, reflecting increases in petroleum and petroleum‑related products, and confidential items.

European Union

The EU consists of 27 member states, Austria, Belgium (including Belgium Luxembourg), Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France (including the French Antilles), Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands (including the Netherlands Antilles), Poland, Portugal, Romania, Slovak Republic, Slovenia, Spain and Sweden.

• Goods exported to the EU fell by 67.4% to $43 million, reflecting a decrease in metalliferous ores and metal scrap.
• Goods imported rose 41.3% to $130 million, reflecting increases in confidential items and general industrial machinery and equipment.

India

• Goods exported to India fell 55.2% to $30 million, reflecting a decrease in confidential items (likely LNG).
• Goods imported increased from $11 million to $99 million reflecting an increase in confidential items.

Vietnam

• Goods exported to Vietnam rose by 40.3% to $94 million, reflecting an increase in gas.
• Goods imported increased from $15 million to $30 million, reflecting increases in other transport equipment, iron and steel, and confidential items.

United States of America

• Goods exported to the USA decreased from $15 million to $14 million, reflecting a decrease in other exports.
• Goods imported rose by 190.7% to $282 million, reflecting an increase in transport equipment.

Canada

• Goods exported to Canada decreased by 44.1% to $38 million, due to a decrease in metalliferous ores and metal scrap.
• Imported goods from Canada rose from $10 million to $24 million, reflecting an increase in imports for metalliferous ores and metal scrap.