South Australia’s Overseas Goods Exports Up 0.7 % For Year To May 2016

South Australia’s Overseas Goods Exports Up 0.7 % For Year To May 2016

South Australia Minister for Investment and Trade Martin Hamilton-Smith

South Australia’s Overseas Goods Exports Up

Victor P Taffa

South Australia’s overseas goods exports totalled $11.5 Billion, up 0.7 % in the year to May 2016, according to figures released today by the Australian Bureau of Statistics (ABS).

“More than 65,000 South Australian jobs are supported by exports and the State Government is committed to seeing this number grow. Continuing growth in trade and exports will lead to a strong economy and job creation.” Minister for Investment and Trade Martin Hamilton-Smith said.

The latest figures show South Australia again performed better than the national average, where total exports fell 4.2 % in the same period.

Minister for Investment and Trade Martin Hamilton-Smith said the figures show that strong demand continues for our local products.

 

“These figures follow the latest economic briefing report by the South Australian Centre for Economic Studies which shows that prices for the state’s overseas exports of goods and services in the March 2016 quarter were 10 % lower compared to a year earlier in trend terms. The state’s strong performance in areas that we can influence is helping offset the global impact of a reduction in iron ore exports to China.” Mr. Hamilton-Smith said.

Key results for the year to May 2016 compared with the year to May 2015 include:

  • Wine – up $136 Million or 11 %;
  • Vegetables and fruit – up $80 Million or 17 %;
  • Lead – up $53 Million or 12 %;
  • ‘Other’, including bulk barley – up $221 Million;
  • Copper – up $272 Million or 26 %.

 Background

The total value of South Australian exports continues to be supported by growth in the value of exports including copper, ‘other/ confidential’ (which includes bulk barley), wine, vegetables and fruit and lead. These gains were partly offset by declines in the value of exports including for metal ores and metal scrap, road vehicles, parts and accessories, coal and gas and gold, silver and platinum.

Excluding minerals, petroleum and grains, South Australian exports in the year to May 2016 were up by 3.5 %. Export growth in the year to May 2016 was recorded in the export markets of Canada, Total EU and US.