The Northern Territory is Australia's gateway to Asia. It has abundant natural resources, both on and offshore, complemented by new and sophisticated infrastructure to support trade with the powerhouse economies of Asia. Darwin is also well positioned to become a major maintenance and operations base for the burgeoning oil and gas industry in the region.
About Northern Territory
Northern Territory's goods and services exports were valued at $6 billion in 2011, growing on average 7 per cent every year for the last five years. Key exports for the Northern Territory in 2011 were natural gas, manganese ores, government services and recreational travel. The territory accounted for 2 per cent of Australia's total exports in 2011.
2010-11 economic indicators
Estimated resident population (September 2011): 231,192
Real Gross State Product growth (%): 1.6
Proportion of Australian GDP (%): 1.2
Why the Northern Territory trades
- Trade gives Northern Territorians the chance to choose from a wide range of competitively priced goods and services from around the world.
- Both exports and imports create jobs. One in five Australian jobs is directly related to trade.
- The Northern Territory's exports are equal to 37.1 per cent of Gross State Product, building wealth and prosperity.
- Foreign investment plays an important role in the Northern Territory's economic development and provides capital to fund business expansion.
How the Australian Government encourages the Northern Territory's trade
The Australian Government is helping Northern Territory exporters to become even more competitive by further reforming the domestic economy. The Government is investing in skills, education, the National Broadband Network and other infrastructure, as well as engaging in tax reform and cutting regulatory red tape.
The Government is also working to increase market access and improve conditions for exporters overseas by advancing multilateral trade liberalisation through the World Trade Organization, facilitating greater regional trade, and removing bilateral trade barriers.
Northern Territory and Australia's FTAs
- Close neighbour Indonesia is the third largest destination for the Territory's merchandise exports. In negotiating the Indonesia-Australia Comprehensive Economic Partnership Agreement, the Government aims to ensure that the Territory's exporters can capitalise on their geographic proximity to ASEAN's largest economy.
- Indonesia also entered the ASEAN-Australia-New Zealand FTA in January 2012, further liberalising trade in a range of goods and services important to the Territory, including live animals, iron and steel articles, and chemicals.
- Of the Northern Territory's top 10 merchandise trading partners, three (the United States, Singapore and Indonesia) are covered by existing FTA arrangements, while the other seven (Japan, China, South Korea, India, Kuwait, Oman and the United Arab Emirates) are currently in FTA negotiations with Australia.
Information and contacts
Department of Foreign Affairs and Trade
Advancing Australia's interests overseas
DFAT state office contact details
08 8982 4199
State government contact
Information for new and existing exporters
13 28 78
Australia's Free Trade Agreements