Trade figures released today show the Weatherill Labor Government is in need of a modern miracle to achieve its promise of lifting South Australia’s exports to $18 billion by 2017.
Australian Bureau of Statistics data released today show the value of merchandise exports in South Australia dropped by $31 million to $11.7 billion in the 12 months to January 2016.
This brings the value of South Australian goods and services exports to just over $14 billion, a whopping $4 billion shy of the $18 billion promise made as part of the State Government’s economic priorities statement released in 2014.
Shadow Minister for Investment and Trade Tim Whetstone said more focus must be placed on assisting South Australian businesses to export.
“Labor has already broken a promise to lift exports to $25 billion by 2013 and the state would need to increase the value of goods and services exports by almost $4 billion in less than a year to reach the revised $18 billion target,” Mr Whetstone said.
“The reality is that under the State Government’s current policies, South Australian exports remain stagnant and will do so until there is more adequate support in place.
“With the benefits of free trade agreements with China, Korea and Japan, strong international demand and the relatively weak Australian dollar, South Australian exports should be substantially growing and regaining national market share.
“What we see from this tired Labor Government is an ad-hoc approach to trade, which sees our on-ground in-market presence minimal and many exporters left without assistance to establish themselves in international and interstate markets.
“All Australian states are experiencing the same global economic conditions, yet South Australia continues to lose important market share.”