Growing US ties drive SA record export high
South Australia’s growing connection with the US has helped fuel the State’s highest-ever export result, surging to a record $17.5 billion.
Local export growth increased by 28 per cent in the 12 months to April 2023 – the second largest growth in any state or territory, behind only New South Wales – and topped the previous record of $17.2 billion set in the year ending March 2023.
Exports to the United States – SA’s second biggest destination market – was up 25 per cent to $1.52 billion over the 12-month period. This growth led to a big boost in South Australia’s market share of Australian exports to the US, up from 7.1 per cent to 7.5 per cent of national export value.
South Australian products in demand in the US include sheep meat ($295.5 million export value), refined lead ($266.8 million) and wine ($178.2 million), along with aircraft parts, and mineral ores and concentrates.
Globally, wheat also drove SA’s record export high – up 77 per cent, to $2.8 billion.
The US is the second most valuable market for SA wine exports, recording a 24 per cent spike overall as the demand for South Australian premium wines above the lucrative USD$15-$25 per bottle price range continues to rise.
Non-commodity products shipped to the US – such as electronic devices and components, transport and aircraft parts, and medical equipment – represented around half of the State’s export value.
This sector is set to further expand in the wake of the AUKUS agreement, which will have South Australians constructing nuclear-powered submarines, building the State’s advanced manufacturing capabilities.
The ABS data results come at the end of Trade and Investment Minister Nick Champion’s trade mission to the US – during which the opening of a new trade office in Washington DC was announced, seeking to deepen ties with the US and South Australia across a range of important sectors for the State.
Local export growth increased by 28 per cent in the 12 months to April 2023 – the second largest growth in any state or territory, behind only New South Wales – and topped the previous record of $17.2 billion set in the year ending March 2023.
Exports to the United States – SA’s second biggest destination market – was up 25 per cent to $1.52 billion over the 12-month period. This growth led to a big boost in South Australia’s market share of Australian exports to the US, up from 7.1 per cent to 7.5 per cent of national export value.
South Australian products in demand in the US include sheep meat ($295.5 million export value), refined lead ($266.8 million) and wine ($178.2 million), along with aircraft parts, and mineral ores and concentrates.
Globally, wheat also drove SA’s record export high – up 77 per cent, to $2.8 billion.
The US is the second most valuable market for SA wine exports, recording a 24 per cent spike overall as the demand for South Australian premium wines above the lucrative USD$15-$25 per bottle price range continues to rise.
Non-commodity products shipped to the US – such as electronic devices and components, transport and aircraft parts, and medical equipment – represented around half of the State’s export value.
This sector is set to further expand in the wake of the AUKUS agreement, which will have South Australians constructing nuclear-powered submarines, building the State’s advanced manufacturing capabilities.
The ABS data results come at the end of Trade and Investment Minister Nick Champion’s trade mission to the US – during which the opening of a new trade office in Washington DC was announced, seeking to deepen ties with the US and South Australia across a range of important sectors for the State.