News

This is the first time the state’s exports have surpassed $18 billion, growing 8.9% (up $1.5 billion) on the previous 12 months and outpacing the nation’s average growth of 3%.

The latest export statistics come as South Australia recorded the highest above-trend economic performance in Australia in the latest ANZ Stateometer report.

The export results are good news following the challenges South Australia has faced, including drought conditions, floods in the Outback and algal bloom along the state’s coastline.

China continues to be the state’s top two-way trading partner with merchandise exports valued at $3.9 billion. The other top performing markets all experienced growth:

· United States – up 35% to $2.77 billion

· India – up 48% to $1.69 billion

· Malaysia – up 47% to $1.48 billion

· Thailand – up 31% to $720 million

The recent announcement of the Australia-European Union Free Trade Agreement (A-EU FTA), finalised in March, will provide significant benefits to South Australia’s exporters, particularly in the sectors of critical minerals, copper, wine, wheat, beef, seafood and sheep meat.

Over the past year, South Australia’s exports to the European Union have grown more than 21.3%, valued at $1.11 billion, growing its share of Australia’s exports from 5.3% to 8.1%.