South Australia’s exports have exceeded $17 billion for the 20th consecutive month, remaining stable while ABS figures show a national decline of more than 8 per cent.
The state smashed its export record with China by $100 million, with $4.37 billion worth of local goods sold to our largest two-way trading partner in the year to September, up 48 per cent.
Prior to the effects being felt of trade impediments and restrictions being placed on exports including Australian wine, barley and lobster, outbound trade with China peaked at $3.55 billion in the year to December 2020 before dropping to $1.85 billion in the year to June 2022.
Following a concerted effort by the Commonwealth Government to rebuild its relationship with the Chinese Government, trade restrictions remain only on Australian rock lobster, although a recently announced schedule would see these lifted by the end of the year.
To help exporters reengage with the Chinese market, the Malinauskas Government implemented a $1.85 million wine package and a $475,000 seafood export growth program.
Beyond China, total exports to our second-largest trading partner, the United States, sit at $2.14 billion, up 34 per cent.
While declines in total exports were seen in New South Wales (down 13 per cent), Western Australia (down 9 per cent), Queensland (down 8 per cent) and Tasmania (down 1 per cent), South Australia remained steady in the year to September, near record highs at $17.6 billion.
India ($1.15 billion), Malaysia ($1.04 billion) and Indonesia ($799 million) round out the state’s top five export markets.
As put by Joe Szakacs
To top $17 billion in annual exports for the 20th month in a row highlights the consistency of South Australia’s international trade.
Our Government is working to deliver more opportunities for our exporters, whether that’s by attracting new airlines flying directly into key markets, providing on the ground support to South Australian businesses, or by working with partners to provide greater access to global consumers.
I’ll keep working with our incredible local businesses to help them capitalise on opportunities.
