South Australia’s trade performance has slumped again with a billion dollars wiped off merchandise exports during the past 12 months.
In the last year the value of South Australia’s merchandise exports fell 9.7% compared with the preceding 12 months to $10.66 billion.
“These Australian Bureau of Statistics (ABS) figures demonstrate the Weatherill Government has no effective strategy to grow exports in South Australia,” said Shadow Minister for Trade and Investment Tim Whetstone.
“Indeed given the Weatherill Government’s target to lift exports to $18 billion by this year Labor has failed dismally.
“These dismal figures go a long way to explaining why South Australia has had the highest unemployment rate, in trend terms, for the past 26 months.
“The Weatherill Labor Government continues to live in its own bubble when it comes to trade.
“Two and a half years ago the Minister for Trade said South Australia needs to do far better with our exports and I completely agree with that statement.
“However, instead of acknowledging that South Australia is not performing as well it should be when it comes to exports, we have a Government that continues to defend its poor record on trade.
“After 14 years of a Labor Government, our share of the national export market has dropped from from 7.3% to 4.1%, in annual terms, over the last 14 years.”
Mr Whetstone, said South Australia needs greater investment in our export strategies to ensure the state can increase its exports.
“The slide in national export share highlights that other States have been able to capitalise on export opportunities but we are not doing so to the same extent, despite operating in the same global economic environment,” Mr Whetstone said.