The Northern territory's economy expanded by 10.5 per cent in 2014/15, more than four times the national average of 2.3 per cent.
The next fastest growth rate was in Western Australia, where the economy expanded by 3.5 per cent.
The slowest growth was recorded in Queensland, where gross state product (GSP), the state and territory version of the national measure of gross domestic product (GDP), rose a meagre 0.5 per cent.
But the disparity in growth rates was revealed by new figures from the Australian Bureau of Statistics on Friday has not been reflected in jobs growth.
The rapidly-growing resource rich provinces are moving out of the high-employment investment phase of the resources boom, where mines and resource projects are under construction, and into the low-employment extraction phase.
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While the Northern Territory's resource-based economy has generated impressive economic growth, its employment growth at last count over the year to October was 2.2 per cent, well below the national average of 2.7 per cent.
NSW, close to the national average with its economic growth rate of 2.4 per cent, was easily the best when it comes to job-creation, with employment growth of 3.8 per cent.
And Queensland, despite its slow economic growth, produced jobs at slightly better than the national benchmark - and at a faster rate than the Northern Territory - with the number of people in work rising by a healthy 2.9 per cent.
