Export figures show improvement

Submitted 10/03/2011

www.southaustralia.biz

 

The latest ABS figures show South Australia's export performance has continued to improve.

Minister for Industry and Trade Tom Koutsantonis says this continued strength is significant given the high Australian dollar and the weakness of the European and US markets.

He says in the 12 months to January 2011, South Australia's overseas goods exports totalled $9.5 billion, an increase of 15.6 per cent over the previous 12 months.

"This is on the back of a strong grain harvest and continued strength in our metal ores and scrap markets," he says.

"South Australia is continuing to go from strength to strength and this is all in fairly unfavourable economic conditions - which makes these figures even more pleasing."

While export markets in the US and across Europe were slightly down, the emerging economies of India, China and the ASEAN region all experienced substantial growth.

"When we record an increase of 77 per cent in our exports to India and a 44 per cent increase in those to China you can safely say the State Government's targeted approach in those regions is a huge success," Mr Koutsantonis says.

"When the US and European markets fully recover from the global financial crisis we will have further room to improve."