INTERNATIONAL MERCHANDISE TRADE
EXPORTS AND IMPORTS
The value of South Australian merchandise exports (in original terms) was $582m in January 2007 down 22.2% from $748m in December 2006. This was a further decrease from the high of $601m in January 2006. The decline between December 2006 and January 2007 was largely due to the value of exported Road vehicles, parts and accessories falling by $158m (94.7%). Other commodities contributing to the decline were Wine exports which were down by $27m (20.1%); Wool and sheepskins (down $10m, 50.7%); and Machinery (down $10m, 28.4%).
Australian exports also fell (by 12.8%) over this period. The main industries that contributed to the decrease in the value of Australian exports were Machinery and equipment manufacturing (down $567m, 39.4%), of which exports of passenger vehicles fell by $188m (68.9%); Food, beverage and tobacco manufacturing down $437m, 27.1%; Metal ore mining, down by $486m, 19.4%; and Oil and gas extraction, $239m (17.8%). The value of merchandise imports increased to $604m in January 2007 from $502m in December 2006; in January 2006 merchandise imports amounted to $512m.
The month of January 2007 was exceptional, because the value of South Australia's imports exceeded the value of the State's exports, whereas for all periods from July 1996 to December 2006 the value of exports from South Australia had exceeded the value of imports. Nationally, for the same period, in most months, the value of imports has exceeded the value of exports.