State GSP growth very encouraging

Submitted 8/12/2008

Migration for Business Growth

 

Australian Bureau of Statistics figures out today show South Australia's GSP (Gross State Product) increased by 3.8% in 2007-08.

The figure placed the State third behind Queensland (5.3%) and Western Australia (5.2%).

Agriculture, fishing and forestry recorded strong growth of 43% in 2007-08, contributing significantly to the GSP growth.

Other industries making strong contributions were property and business services, finance and insurance, and health and community services.

Manufacturing output declined 1.9% but remains the largest industry in South Australia with 13.6% of GSP share.