Business

South Australia’s exports to China surge to record $4.23 billion amid global trade shifts

South Australia has reported a 54.7% increase in exports to China, reaching a historic $4.23 billion. This growth defies national trends, with significant gains in food, wine, and agribusiness sectors.

South Australia’s economic relationship with China has strengthened significantly according to the latest export figures. The state’s total exports have surged to a national high of $17.56 billion, with exports to China alone climbing to a record $4.23 billion. This represents a 54.7 percent increase over the past year, an impressive achievement given the overall national decline in exports by 9.3 percent.

In contrast to the general trend, South Australia was one of only three Australian jurisdictions to experience growth in exports during this period. Its exports grew by 0.8 percent, placing it second in the country for export growth rates. Joe Szakacs, the Minister for Trade and Investment, highlighted the remarkable performance of the state’s food, wine, and agribusiness sectors, which saw an increase of 175.4 percent. Specifically, these exports to China were valued at $1.88 billion, making up 44.5 percent of all South Australian exports to China.

The data also revealed strong performance in several key commodities. Barley exports rose by 6.6 percent to reach $802 million, with China purchasing 78 percent of the total. Refined copper and wheat to China also saw substantial growth, valued at $935.2 million and $513 million respectively, marking increases of 28.3 percent and 76.9 percent.

The growth in exports also extended beyond China. The United States, New Zealand, Vietnam, and Hong Kong all recorded double-digit growth in their imports from South Australia. The United States, in particular, saw a 33 percent increase, with exports valued at $2.12 billion.

Commenting on these developments, Szakacs stated, “South Australia’s merchandise exports continue to grow, particularly to our largest two-way trading partner, China, which has hit a record-high of $4.23 billion – up 55 per cent year-on-year.” He also noted the significant growth in trade with the United States, due to the global demand for South Australia’s premium products.

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