Darwins economy is set to rise once the Darwin to
Alice Springs railway line is completed. There are many different
Industries that contribute to the ever growing Northern Territory
economy.
Mining and tourism are the main contributors to
the Northern Territory economy.
Wholesale and retail trade, construction and defence spending
are also major contributors. Cattle production , horticulture,
agriculture, cropping, fishing, live cattle exports and crocodile
farming are also important Territory industries.
Mining and the development of petroleum resources
have been the Territorys leading private sector industry
for many years and mainstay of the Territory economy for nearly
a century.
The mining industry is the Northern Territorys
key economic contributor and leading private sector industry.
Overall value of production in the minerals industry totalled
$1.4m last year and the total value of gold production increased
$9m from the previous year to $356m in 1997 / 98.
The Timor Sea is a rich resource. Oil and gas companies
have entered into commitments to drill around 165 exploration
wells in the area between 1 January 1998 and 31 December 2003.
Associated expenditures are expected to exceed $1.4 billion.
Major mineral resources in the Top End include gold
and bauxite with lucrative deposits of manganese, zinc, lead and
silver, and reserves of diamonds, copper and tin. Known energy
resources include oil, gas and uranium.
Tourism is the Territorys second largest industry.
In 1997 / 98 it was responsible for well over 1.2 million visitors
generating an income of some $702 million.
Major secondary industries include heavy transport,
coastal shipping services and repair, heavy automotive repair
and maintenance, storage and distribution of construction and
engineering raw materials, and light and heavy metal fabrication.
The Defence is a major contributor to the Darwin
economy. Defence spending, including salaries ( estimated at $150m
per year ), in the NT for the 1997 / 97 financial year, was approximately
$365 million.
The Darwin Trade Development Zone ( TDZ ) is Australias
first and only export processing zone, established in 1985. The
TDZ is located on prime industrial land, adjacent to the new East
Arm Port and on the terminus route for the planned Alice Springs
to Darwin rail link. It offers competitive land deals and extensive
project support, including exemptions from some NT taxes.
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