South Australian exports have reached a record-breaking level in the 12 months to February, totalling more than $12.1 billion worth of exports during that period.
According to the article from the Department for Manufacturing, Innovation, Trade, Resources and Energy (DMITRE), the latest Australian Bureau of Statistics (ABS) trade figures showed that overseas goods exported from South Australia for the year to February 2014 grew by 14% year on year, outpacing the national exports which grew 9.2% in the same 12-month period.
Manufacturing, Innovation and Trade Minister Susan Close pointed out that exceeding the $12 billion mark is an incredible result for South Australian exporters. According to her, the latest export data was the sixth consecutive 12-month figure to total $11 billion or more.
“This record high is a credit to South Australia’s exporters, across a range of industries. In a very challenging international market, South Australia has outperformed every other State and Territory in the country,” she said.
“This achievement is even more remarkable in the face of an Australian dollar that is still holding above US90 cents. The result also reflects the South Australian Government’s continued support for our export sector through specific strategies for China and India,” said Ms Close, adding that the Government had worked hard to promote South Australia’s premium food and wine and mineral resources to the world market.
South Australia’s 14% growth compares to 13% for the Northern Territory and Western Australia, 8.9% for Victoria and 0.3% for Queensland, while New South Wales and Tasmania both recorded decreases in the 12 months to February.
South Australia’s record breaking exports in the 12 months to February was driven primarily by the strong growth in export value of Road Vehicles (up 26.3% or $108 million) the growth in export of meat and meat preparations (26.2% or $178 million), other commodities including confidential items and bulk barley (up 22.3% or $457 million), lead (up 22% or $75 million), metal ores and scrap (up 20% or $449 million) and petroleum and petroleum products (up 13% or 21 million).