SA's exports top the nation again

08 Dec 2023
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.