South Australia breaks export market record
News Release
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Hon Tom KoutsantonisMinister for Mineral Resources Development |
Wednesday, 6 July 2011
South Australia is hot on the heels of the mining giant Western Australia as the nation’s fastest growing export economy according to record new figures released by the Australian Bureau of Statistics.
In the 12 months to May, South Australia’s overseas goods exports totalled $11 billion – the highest level recorded by the state. This was a 38 per cent increase, or $3 billion on the previous twelve months. Western Australia was slightly ahead with a 40 per cent increase.
Minister for Industry and Trade, Tom Koutsantonis, said these gains were in large, due to the Rann Government’s long-term decision to invest in the State’s mining industry, as well as a recordbreaking wheat harvest.
“South Australia, and the nation is slowly regaining the ground lost when the global financial crisis hit and caused exports and overseas markets to melt down,” he said.
“The Rann Government's investment in the mining industry and our targeted export programs to growing economies such as China and India, appear to have helped SA leap frog other states and recover far more quickly.”
Over the 12 month period, the ABS figures show wheat exports up by 251 per cent ($1.06 billion), metal ores and scrap up 59 per cent ($706m) and copper up 110 per cent ($673m).
Mr Koutsantonis said South Australia’s booming figures were also helped by the Government’s targeted export programs to the growing economies of China and India.
“Exports into China rose 85 per cent and India 63 per cent for a combined rise of nearly $1.3 billion this year on the previous 12 months,” Mr Koutsantonis said.
“This clearly shows the Government’s trade offices in those countries have been performing an outstanding job of selling what South Australia has to offer.
“These are the same trade offices the Opposition has stated we should abandon.
“I think it is important to note that these results have come despite the high Australian Dollar, which has consistently been above parity. Combine this with poor economic conditions around the world and there is no doubting it is a tough climate for exporters to operate.
“These latest results are very encouraging for the State as are exports are continuing to diversify.
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- Page Last Modified: November 15, 2011