South Australia’s export growth has topped the nation for the third consecutive month, with the State’s export growth rising to $17.7 billion.
Latest ABS data shows South Australia is the only state with double-digit export growth (up 10.3 per cent). The state is also only one of two to record growth, ahead of Western Australia (up 5.4 per cent), in the year ending October 2023.
All other states recorded a fall including Tasmania (down 1.8 percent), Victoria (down 2.4 per cent), Northern Territory (down 4.8 per cent), New South Wales (down 7.5 per cent), and Queensland (down 10.6 per cent).
Growth in export value over the last 12 months experienced across several export destinations including China (up 43 per cent), the United States (up 7 per cent), Thailand (up 90 percent), India (up 13 per cent), Indonesia (up 69 per cent), and Vietnam (up 26 per cent).
Malaysia remains South Australia’s third-largest export market with a growth of $1.3 billion coinciding with the 50th anniversary of Adelaide and George Town, Penang’s, sister city arrangement.
The results come a day before celebrations take place to mark the 50th anniversary of the signing of the sister city agreement which was proposed in 1972 by then South Australian Premier Don Dunstan.
It was then adopted on 8 December 1973 when Dr Lim Chong Eu, then Chief Minister for Penang, signed the agreement.
The sister city agreement was further buoyed by the signing of the Malaysia-Australia Free Trade Agreement, which entered into force on 1 January 2013 and builds on the benefits of the ASEAN-Australia-New Zealand Free Trade Agreement.
Anniversary celebrations include a delegation from Penang, which will tour innovation districts Lot Fourteen and Tonsley, Adelaide BioMed City, TAFE SA and South Australia’s universities.
As put by Nick Champion
It’s no surprise South Australia continues its export growth at a rate higher than the rest of the nation – you need only look to its premium produce and advanced manufacturing skillset.
A massive thanks must go to our primary producers and exporters.
I am also delighted to congratulate the City of Adelaide and George Town on their 50th anniversary – especially with Malaysia among our top exporters.
Malaysia is a key export market for South Australia, and we remain a long-term supplier of copper, wheat, wine, and meat to this dynamic and growing economy.
As put by Lord Mayor of Adelaide Dr Jane Lomax-Smith
This is an extraordinary relationship that is built not just on modern wishes or current fashion, but in many ways, has been built over many centuries, so it has a real sense of authenticity.
Our sister city relationship has grown over 50 years and is now the basis for ongoing economic and social activity with enduring opportunities for both cities.
