The NT jumped from eighth to fourth in overall economic standing, its best result since October 2016, the latest CommSec State of the States quarterly economic report shows, while Western Australia leads overall for the fifth consecutive quarter, topping four economic indicators.
For the October quarter, the NT economy grew by 5.4 per cent, while population growth inched up 1.3 per cent. The Territory’s housing finance also went up by 24 per cent, and new dwellings climbed by 30 per cent.
The CommSec reports sequentially, NT economic growth rate has actually declined from 10.2% in the July quarter 2025 to 5.4% in the October quarter 2025. While the increase in the national rankings from 8th to 4th is a good outcome, however a reduction of around 50% in economic growth rate for the quarter is a significant outcome for the Northern Territory. I also note that the population growth in the Northern Territory is only 1.3 per cent and we are supposedly the gateway to Asia.