International trade November 2017

The Territory’s international trade in goods data is only reported by the Australian Bureau of Statistics in original terms and current prices.

The value of the Territory's total imports does not include the value of Territory feedstock gas imports from the Joint Petroleum Development Area.

Balance of trade

Northern Territory (goods) $3.5B 47.6%
Australia (goods and services) $16B 168.4%
(value in the year, year on year % change, original data)

In November 2017, the Territory's monthly trade balance decreased by $77 million to $244 million. The decrease in the trade surplus was driven by a $87 million increase in goods imported, slightly offset by a $10 million increase in the value of goods exported.

The major drivers of the monthly change were an increase in the value of imports from France (up $47 million) and the Republic of Korea (up $25 million), both recorded higher than average levels of import values in the month. Malaysia also recorded $18 million increase in the value of imports to the Territory.

The increases in the value of goods exports in the month was mainly driven by a $42 million increase in exports to Thailand and a $8 million increase to Vietnam, partly offset by $23 million decrease in exports to China.

The Territory's annual total international trade balance was $3.5 billion in the year to November 2017, a 47.6 per cent (or $1.1 billion) increase on the previous year (Chart 1). The year on year increase largely reflects an increase in the value of goods exports by $1.0 billion to $5.3 billion and increase in the value of goods imports by $113 million to $1.8 million

The Territory’s trading partners

Exports

In the year to November 2017, the Territory’s top goods export destinations (Chart 2) were:

  • China, which increased by $749 million to $1.9 billion (predominately mineral ores including manganese, and concentrates such as zinc and lead); and
  • Japan, which has remained relatively constant at $1.8 billion (in part reflecting liquefied natural gas (LNG) exports from the Darwin LNG plant).

Imports

The majority of Territory imports are petroleum fuels, road vehicles and machinery and transport equipment. In the year to November 2017, the top countries from which the Territory sourced its international goods imports (Chart 3) were:

  • Malaysia, up $186 million to $362 million;
  • Singapore, which dropped $28 million to $214 million; and
  • the United States of America, up $60 million to $180 million).
Chart 1: Territory’s Goods Trade Balance (moving annual total, current prices) Chart 2: Territory’s Major Export Destinations (moving annual total, current prices) Chart 3: Territory’s Top Trading Partners (annual total, current prices)

Table 1: International Trade in Goods and Services Table 2: Territory’s Major Goods Trading Partners, original data

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