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Progress Against Objectives - December 2017

Promoting South Australia&rquo;s international connections and engagement

2017 Objectives

Status (as at December 2017)

Progress

Increase goods and services exports from $13.8b (2013) to $18b (2017) to create new jobs and economic growth.

Progress Made

In the year to September 2017, South Australia’s overseas goods and services exports totalled $15.4 billion in chain volume terms and $15.5 billion in current price terms (up 14% and 16% respectively over the previous year).  Final data for this objective is expected to be made available by the end of March 2018.

Goods export prices fell considerably through the course of 2015 and the first half of 2016, which was a critical factor in not achieving the existing target. Goods export prices have recovered somewhat in recent quarters and are 3.3% higher than the June quarter 2016 low.

Substantial increases in higher value-added sectors such as services, wine and fresh fruit and vegetables - the higher job-creating sectors targeted by the Government's export programs - have provided growth in partial compensation.

Increase the number of South Australian businesses exporting by at least 50 per annum.

Achieved

In 2016–17, 60 new South Australian businesses commenced exporting.

Create at least 6000 new jobs in SA through inbound Foreign Direct Investment.

Achieved

As at November 2017, Investment Attraction South Australia has secured 24 major investment projects, creating 7,085 jobs and representing a total economic benefit of $6.7 billion.

Increase the number of state government skilled migrant nominations from 2226 in 2013-14 to at least 2400 per annum in 2016-17.

Achieved

In 2016-17, there were 2,447 skilled migrant nominations.

Increase the number of business migrant nominations from 130 in 2013-14 to at least 250 per annum in 2016-17.

Achieved

In 2016-17, there were 564 business migrant nominations.