Mr BALDWIN - 1996-08-15
During the May sittings, the minister gave the three-quarterly figures for trade with the BIMP-EAGA region. He predicted that the 1995-96 figures for exports to BIMP-EAGA countries would show an increase of some $50m on the last financial year. I understand that the ABS figures are available now. Can the minister inform the House of the final figures?
ANSWER
Mr Speaker, I thank the honourable member for his question. Indeed, the Territory's 1995-96 trade figures from the Australian Bureau of Statistics are a sign of our ongoing success. Last financial year, total Territory exports, excluding mineral fuels, finally hit the billion dollar mark, a great figure to achieve. They increased from some $922m to $1091m. Live cattle were the predominant export. That trade increased by some 33%. It is worth noting that exports of processed meats increased by some 83%.
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Most pleasing of all these figures were those for our exports to the BIMP-EAGA region which embraces Brunei, Indonesia, Malaysia and the Philippines. It is a region that we began to target only recently. Last year's exports were significantly higher than in any other year. Excluding mineral fuels, the figure topped $170.9m. Overall, that is slightly better than predicted. It is a $50.4m increase. That translates to a 42% increase in exports to the BIMP-EAGA region over the previous financial year, and a 375% increase over the last 5 years. If we take into account our mineral fuels, the Territory's exports increased by 61%, reaching $194m.
The latest figures have exports, excluding mineral fuels, to Indonesia at the top of the list at $92.6m, up almost $34m on last year. That is followed by our exports to the Philippines, at $55.6m, compared with $48.2m last year. Exports to Malaysia this year were worth $15.4m, almost double last year's figure of $8.1m. Exports to Brunei, the smallest country in that region, reached $7.2m, compared with $5.1m last year. Obviously, the main export to this region is also live cattle, with a value of $147.5m compared with $113.5m in 1994-95. The other significant export category is transport equipment, with a value of $10.2m, which is considerably more than last year's $2.7m.
During 1995-96, the Territory's overall imports also increased, from $332m to $394m. Imports from the BIMP-EAGA region increased from $10.1m to $13.5m. Growth in our imports, especially from the BIMP-EAGA region, indicate that the Northern Territory is growing in its importance as a gateway to Australia. It shows also that this government's strong focus on the Asian region is a step in the right direction. The results speak for themselves.
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ANSWER
Mr Speaker, I thank the honourable member for his question. Indeed, the Territory's 1995-96 trade figures from the Australian Bureau of Statistics are a sign of our ongoing success. Last financial year, total Territory exports, excluding mineral fuels, finally hit the billion dollar mark, a great figure to achieve. They increased from some $922m to $1091m. Live cattle were the predominant export. That trade increased by some 33%. It is worth noting that exports of processed meats increased by some 83%.
Page 1502
Most pleasing of all these figures were those for our exports to the BIMP-EAGA region which embraces Brunei, Indonesia, Malaysia and the Philippines. It is a region that we began to target only recently. Last year's exports were significantly higher than in any other year. Excluding mineral fuels, the figure topped $170.9m. Overall, that is slightly better than predicted. It is a $50.4m increase. That translates to a 42% increase in exports to the BIMP-EAGA region over the previous financial year, and a 375% increase over the last 5 years. If we take into account our mineral fuels, the Territory's exports increased by 61%, reaching $194m.
The latest figures have exports, excluding mineral fuels, to Indonesia at the top of the list at $92.6m, up almost $34m on last year. That is followed by our exports to the Philippines, at $55.6m, compared with $48.2m last year. Exports to Malaysia this year were worth $15.4m, almost double last year's figure of $8.1m. Exports to Brunei, the smallest country in that region, reached $7.2m, compared with $5.1m last year. Obviously, the main export to this region is also live cattle, with a value of $147.5m compared with $113.5m in 1994-95. The other significant export category is transport equipment, with a value of $10.2m, which is considerably more than last year's $2.7m.
During 1995-96, the Territory's overall imports also increased, from $332m to $394m. Imports from the BIMP-EAGA region increased from $10.1m to $13.5m. Growth in our imports, especially from the BIMP-EAGA region, indicate that the Northern Territory is growing in its importance as a gateway to Australia. It shows also that this government's strong focus on the Asian region is a step in the right direction. The results speak for themselves.
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Last updated: 09 Aug 2016