SA’s Economy

Riding a wave of economic opportunity

• SA's economic performance over the past eight years reveals why business confidence remains at high levels:¹
o Employment up by 14% (97,800 more) and at a record high level²
o Business investment is 126% higher³
o Retail sales are 39% higher⁴
o Annual exports are 66% higher⁵

• The unemployment rate of 4.6% is the lowest since monthly recrods began 30 years ago.⁶

• Major projects totalling $44.8 billion in value either underway or in the pipeline, many of them related to mining and defence.⁷

• South Australia enjoys a Triple A international credit rating awarded by Standard & Poor's.

• Strong global economic growth is expected to continue in 2008, with the International Monetary Fund forecasting growth of 4.8%.⁸

• The OECD’s latest Economic Outlook presents a positive outlook for Australia’s economy, with solid economic growth of 3.5% expected in 2008 and 3% forecasted for 2009.⁹

• The world has recognised the potential in South Australia for mining with the Fraser Institute in Canada ranking the State as the fourth most prospective place in the world out of 65 jurisdictions, up from 30th place a few years ago. 

• South Australia’s future growth is focussed on continuing to improve and promote our competitiveness, innovation and productivity to benefit from these strong economic conditions.

Current economic statistics

The Department of Trade and Economic Development provides a regular update of South Australia’s current economic performance.  The most current overview can be accessed here:

Economic Performance Update

The Australian Bureau of Statistics data provides a quarterly data release South Australian Statistics which provides an overview of a number of economic, social and environment statistics. Topics covered include demography, state accounts, consumption, investment, production, prices, labour force, incomes, housing finance, and environment. The overview is updated in March, June, September and December and in the intervening months the publication includes feature articles that provide a South Australian focus on economic, social and environmental issues.

South Australian Statistics

A short overview of South Australia's economic profile:

SA at a Glance

Overview of SA’s economic performance in 2007

The Economic Development Board's publication Economic Update provides an overview of South Australia’s economic performance during 2007.

Economic Update 2007

Footnotes

1. Survey of South Australian Business Expectations, December quarter 2007 by Business SA.

2. ABS Catalogue no. 6202.0.55.001 Table 7, February 2008.

3. ABS Catalogue no. 5220.0 Table 5, 2006-07.

4. ABS Catalogue no. 8501.0 Table 15, December quarter 2007.

5. ABS Catalogue no. 5368.0 Table 15a, January 2008.

6. ABS Catalogue no. 6202.0.55.001 Table 7, February 2008.

7. http://www.southaustralia.biz/Investing-in-SA/Major-Projects-Directory.aspx

8. IMF Economic and Financial Surveys, World Economic Outlook Database, October 2007 edition.

9. OECD Economic Outlook No. 82, December 2007.