SOUTH Australia’s Malinauskas government is claiming credit for the state registering record exports valued at $17.93 billion for the year ending December 2023.
SA also recorded the highest rate of year-on-year growth in Australia, surging 8.5%.
“South Australia’s continued growth in exports is in contrast with other states and territories which continue to record monthly export declines, except for Western Australia which was up 1.1%,” the government said.
This record high export result comes a week after the CommSec State of the States report ranked South Australia’s economy number one in Australia. SA topped the nation in Economic Growth, Unemployment, Construction Work and Dwelling Starts.
The state government’s investment in the growing Southeast Asia export markets is already showing results, with SA’s exports growing 30% in the key region.
Some of SA’s closest neighbours are driving the state’s merchandise exports with increases in markets such as Thailand, up 69.9%, Indonesia, up 42.8% and Vietnam, up 26.6%. Malaysia remained SA’s third largest export market, worth $1.26 billion and Thailand is the state’s fifth largest market, valued at $1.1 billion.
The Philippines has become South Australia’s sixth largest merchandise market, overtaking Indonesia, with exports topping $903 million.
South Australia’s exports to Malaysia, Thailand, Indonesia, Vietnam and the Philippines totalled $4.7 billion.
