For the first time ever, South Australia’s economy is ranked number one in the nation, according to the latest CommSec State of the States report, released today.
South Australia topped the nation in four of the eight key indicators used to measure and rank economic performance among states and territories.
Among the indicators, the State ranked number one in the nation for number of dwellings starting to be built – which follows the Malinauskas Labor Government’s abolition of stamp duty for eligible first home buyers.
| State of the States measure | South Australia’s ranking |
|---|---|
| Economic Growth | Number 1 |
| Unemployment | Number 1 |
| Construction Work | Number 1 |
| Dwelling starts | Number 1 |
This is the latest in a series of nation-leading economic results for South Australia, including:
*The strongest economic growth of any state in the past year – up 3.8 per cent.
* The strongest export growth of any state in the past year – up 12 per cent.
*ANZ Stateometer labelling SA’s economy the best performing in the nation.
South Australia’s unemployment rate also hit a record low of 3.6 per cent in recent months.
The Industry Advocate also released a report last week showing more than $12.2 billion in economic benefit was delivered to South Australian companies and workers through State Government contracts in 2022/23. This was a 59 per cent increase on the previous year.
As put by Peter Malinauskas
The State Government was elected with a clear plan to grow our economy and we are seeing the results.
Significant government investment in housing and infrastructure and thriving exports have helped drive our State’s economic activity.
We know there is more to be done to ease pressure on households in the community and will continue doing what we can to provide targeted cost-of-living support.
As put by Stephen Mullighan
This is the first time we’ve been ranked first in the nation in this report, and it is a clear sign that our investment in our economy is delivering results.
We are the lowest-taxing state on the mainland, we’ve cut stamp duty for first home buyers, and we’ve boosted investment in infrastructure.
