South Australian exports outpace nation to record $12.4 billion
Wednesday, 02 July 2014
South Australia’s export growth has again outpaced the nation to hit a record high of $12.4 billion in the 12 months to May.
The latest Australian Bureau of Statistics trade figures show overseas goods exported from South Australia for the year to March 2014 grew by 14% year on year, outpacing the nation.
The ABS figures published today show national exports grew 11% in the same 12-month period, with all the States lagging behind South Australia’s performance.
Investment and Trade Minister Martin Hamilton-Smith said South Australian exporters had exceeded the $12 billion mark for a 12-month survey for the fourth consecutive month.
“Since breaking the $12 billion mark in February’s 12-month tally for exports, South Australia has posted record after record,” Mr Hamilton-Smith said.
“Despite a challenging exchange rate and lower commodity prices, South Australian exports continue strong performances compared with the other States.
“While this is a tremendous result for our economy, we can’t rest here. Our agribusiness and manufacturers need our continued support to identify and create new market opportunities.
“Building on the support for our India and China engagement strategies, the Government has embarked on a consultation process to develop a similar approach to South East Asia.
“We want our exporters to be able to capture an increased market share in the regional power houses of China and India as well as the dynamic South East Asian region.”
South Australia’s18% growth in the 12 months to May compares more than favourably to 13% for Western Australia and the Northern Territory, up 11% for Victoria and up 1.0% for Queensland.
Both New South Wales, where exports were down 0.4% and Tasmania down 10%, recorded declines in the same 12-month period.