South Australia has achieved record-breaking export levels, reaching an impressive $17.9 billion for the 12 months ending November 2023.
In a government news release, the state reported that its export growth has consistently led the nation for the fourth consecutive month, soaring by an impressive 12 per cent.
Among the Australian states, only South Australia and Western Australia experienced positive export growth during this period, showcasing their resilience and economic strength.
China, maintaining its status as South Australia’s largest export destination, contributed significantly to this achievement.
The year-on-year figures surged by 46 per cent, reaching $3.2 billion. This success can be attributed to the collaborative efforts of both the State and Federal Governments to stabilize the trading relationship between the two nations.
Premier Peter Malinauskas, in September, and Prime Minister Anthony Albanese, during his visit to China, made notable efforts to strengthen diplomatic ties.
Foreign Affairs Minister Penny Wong and Federal Trade and Tourism Minister Don Farrell have also actively advocated for Australian producers during their trips to Beijing.
The recent removal of trade impediments by China on products like barley has positively impacted South Australia.
Barley exports alone reached a record $218 million in the year ending November 2023, a remarkable increase from $111 million in the preceding year ending October 2023.
The South Australian Government continues to work towards easing export restrictions on lobster, while wine tariffs are currently under review.
China’s increased demand for South Australian barley has played a pivotal role in this success story, the government noted.
Notably, South Australia’s hay exports to China, valued at approximately $33 million before the imposition of trade impediments in the 2021-22 financial year, have witnessed a significant recovery.
In a diversification of export markets, India has emerged as South Australia’s fourth-largest export destination, experiencing a growth of 24 per cent to $1.1 billion for the year ending November 2023.
This aligns with Trade and Investment Minister Nick Champion’s mission to India last year, marking the first visiting delegation by a South Australian Minister since 2017.
According to the minister, the collective efforts of the state’s farmers and growers are pivotal in this success story, as they tirelessly contribute to sending top-notch produce to major international markets.
“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,” Champion noted.
He added, “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.”
