South Australian export growth good news for potential investment
South Australia could be a great location to consider purchasing investment property in over the next few years, especially if the state's economy continues on its current trajectory. The latest release from the state government has illustrated the increasing degree of exported goods leaving the state, which could be perfect for those looking into commercial property investment.
In fact, South Australia's exports surged up to $11.7 billion by December last year - a huge 9.5 per cent increase over the previous 12 months - with no signs of slowing down during the new year.
Manufacturing, Innovation and Trade Minister Tom Kenyon said the increase was above the recorded national increase for exports over the 2013 period , which only grew by 5.9 per cent during 2013.
"The rise in the value of our exports to $11.7 billion in December last year was the third highest rise of all States and Territories in 2013," said Mr Kenyon in a February 6 statement.
The only two states to beat out South Australia were the Northern Territory (up by 12.5 per cent) and Western Australia (up by 9.8 per cent).
"In fact, three states recorded a drop in exports over the 12 months - New South Wales and Queensland (both down 3.9 per cent) and Tasmania (down 3.7 per cent)," said Mr Kenyon.
"The export numbers can be volatile, but these latest figures for South Australia are very positive signs in our efforts to further boost our export growth in an international marketplace that is still very challenging."
By far the strongest export markets in the state were gold, silver and platinum, which saw a collective increase of $119 million over 2013 - or a whopping 203 per cent growth. Following this were road vehicles, parts and accessories, increasing by $132 million (33 per cent), metal ores and scraps, which rose by $312 million (14 per cent), and wheat, growing by $156 million (13 per cent).
Other commodities, including bulk barley, also experienced growth over the least 12 months, increasing by $256 million (12 per cent). These results point to an increasingly stable state economy, which could be valuable to enter into through property investment in the coming years - especially with the national population expected to skyrocket.
China was the largest export market for South Australia, with a yearly growth of $670 million - or a relatively large 31 per cent. Second was the United States of America, which grew by $288 million, or 30 per cent.