South Australia’s exports have reached record levels, growing to $17.9 billion for the 12 months ending November 2023.
The State’s export growth also topped the nation for the fourth consecutive month, with our exports soaring 12 per cent.
South Australia and Western Australia were the only two states to see positive growth.
China remains South Australia’s largest export destination with the year-on-year figure up 46 per cent to $3.2 billion.
This impressive result follows the concerted efforts by both the State and Federal Governments to stabilise the trading relationship between the two nations.
Premier Peter Malinauskas visited the region in September, while Prime Minister Anthony Albanese met with President Xi Jinping on his trip to China. Foreign Affairs
Minister Penny Wong and Federal Trade and Tourism Minister Don Farrell have also been busy advocating for Australian producers on trips to Beijing.
South Australia has welcomed the recent removal by China of trade impediments on products such as barley, with the South Australian Government continuing to advocate for eased export restrictions on lobster, while wine tariffs are currently under review.
Increased demand by China for South Australian barley has seen it reach a record $218 million in exports in the year ending November 2023, compared to $111 million for the year ending October 2023.
Prior to the imposition of trade impediments in the 2021-22 financial year, South Australian hay exports to China were worth approximately $33 million.
India became South Australia’s fourth largest export market, with export growth of 24 per cent to $1.1 billion for the year ending November 2023. This coincides with Trade and Investment Minister Nick Champion’s mission to India last year which was the first visiting delegation by a South Australian Minister since 2017.
South Australia’s share of national exports is just over three per cent for the year. Australian merchandise exports declined by 3.6 percent to $562.4 billion in the same period.
Minister for Trade and Investment, Nick Champion, said the growth across a number of industries shows South Australia punching above its weight, outperforming the rest of the nation.
“Our entire state continues to benefit from the hard work of our farmers and growers who are sending our world class produce to major international markets,” he said.
The stabilisation of the relationship between Australia and China continues and South Australia’s commitment to ongoing partnerships and collaboration with the region remain following visits to China by both the Premier and the Prime Minister.
We greatly value the efforts of both the State and Federal Government, to ensure our state and importantly our producers have a strong trading partnership with China.”
