As a small, export-oriented economy, the Northern Territory relies on identifying and meeting export demand to maintain and grow living standards. That means delivering products that international markets want. Research suggests that growing Asian economies to our immediate north will create strong demand for products the Northern Territory can produce competitively.
The Northern Territory industry sectors expected to experience strong demand growth include energy and minerals, tourism, agribusiness, and international education and training. Along with the opportunities emerging from the significant Defence investment program in the Top End, these industries are identified as the Territory’s major growth sectors in the short to medium-term.
From the research undertaken and feedback received during the Summit process, it is clear there is a broad consensus that these five industries will be a major source of future private sector investment and jobs growth in the Northern Territory. There is a role for the public and private sectors to play a part in growing the Territory economy.