The Northern Territory is underpinned by the Australian economy, one of the safest, low-risk investment destinations available.
The Northern Territory’s economy is driven by strategic investment in energy, resources, and projects of both Territory and national significance.
This growth isn’t accidental; it’s the result of focused policy, industry partnerships, and a relentless drive to cut red tape and empower business.
The Territory’s economy is now estimated to grow by 3.2% on average between 2024-25 and 2028-29, well above the expected rate of growth for Australian GDP of 2.4% over the same period.
The Territory labour market is strong.
Employment increased by 0.5% in March 2025 compared to the same time last year. Importantly this is supporting growth in the Territory’s labour force, which increased to be over 150,000 for the first time in May 2025.
Wages in the Territory continue their upward trajectory, growing 3.4% in 2024.
The unemployment rate remains broadly stable at around 4.1%.
International trade continues to grow with net exports rising by 14.1 % to $13.3 billion.
Strong investor confidence in the Territory has seen private investment increase by 6.1%.
Building approvals have surged 48.6% in the year to March 2025 a result of Territory Government’s HomeGrown Territory Grant and FreshStart New Home Grant schemes, introduced on 1 October 2024.
Total construction work rose by an annual 11.2% in 2024 to $3.8 billion.
The Territory has a number of significant projects that are likely to further boost growth in the Territory in the years ahead.
The Northern Territory offers a vibrant and prosperous lifestyle reinforced by a strong economy.
Territorians know that economic strength means job security, better services, and opportunity for our families.