SA's record exports

06 Feb 2024
South Australia’s export market continues to go from strength to strength, with the state registering record exports valued at $17.93 billion for the year ending December 2023.[1]
South Australia also recorded the highest rate of year-on-year growth in Australia, surging 8.5 per cent. 
South Australia’s continued growth in exports is in contrast with other states and territories which continue to record monthly export declines, except for Western Australia which was up 1.1 per cent. 
This record high export result comes a week after the CommSec State of the States report ranked South Australia’s economy number one in Australia. SA topped the nation in Economic Growth, Unemployment, Construction Work and Dwelling Starts. 
The State Government’s investment in the growing Southeast Asia export markets is already showing results, with the state’s exports growing 30 per cent in the key region. 
Some of South Australia’s closest neighbours are driving the state’s merchandise exports with increases in markets such as Thailand, up 69.9 per cent, Indonesia, up 42.8 per cent and Vietnam, up 26.6 per cent. 
Malaysia remained South Australia’s third largest export market, worth $1.26 billion and Thailand is the state’s fifth largest market, valued at $1.1 billion. 
The Philippines has become South Australia’s sixth largest merchandise market, overtaking Indonesia, with exports topping $903 million. 
South Australia’s exports to Malaysia, Thailand, Indonesia, Vietnam and the Philippines totalled $4.7 billion. 
In March 2023, the South Australian Government appointed Martin Haese as the State Government’s Trade and Investment Special Envoy to Singapore and Southeast Asia to deepen trade relationships with the region and to kickstart more investment opportunities.
Mr Haese hosted Premier Peter Malinauskas during his visit to Singapore last September, meeting with key government officials, multinational trading businesses, and key investors.

[1] ABS revised last month’s figures to $17.8 billion instead of $17.9 billion (11.6 per cent growth instead of 12 per cent).