South Australia’s Strategic Plan is comprised of 100 targets. These targets are specific and measurable and enable us to measure our progress towards achieving the Plan’s visions and goals.
Each target is reported on through this section of the website. Data is analysed and uploaded as it becomes available.
Target:37. Total exports:
Increase the value of South Australia's export income to $25 billion by 2020
Exports of goods (merchandise) can be measured directly, using the FOB method (based on administrative records collected by the Australian Customs Service – the “free-on-board” value of export invoices) or indirectly by the chain volume method, a derived measure which calculates the contribution of export income to South Australia’s Gross State Product. Services exports can only be measured indirectly, being derived either from balance of payments data or by the chain volume method.
Using the FOB measure*, the value of goods and services grew from $10.4 billion in 2002-03 (the baseline year) to $13.7 billion in 2014-15 ($14.7 billion in 2013-14). Over this period, goods exports grew from $8.37 billion to $11.32 billion and services exports, increased from $1.34 billion to $2.40 billion.
Using the chain volume method**, goods and services grew from $10.37 billion in 2002-03 to $13.73 billion in 2014-15, with goods exports up from $8.7 billion to $11.41 billion over the period. The value of services exports grew to $2.3 billion in 2014-15, up from $1.68 billion in the baseline year (2002-03).
The annual average growth rate in goods and services using the FOB method from 2002-03 to 2014-15 was 3% per annum. To reach the target export income of $25 billion by 2020 requires an annual average growth rate of 12.8% per annum.
The annual average growth rate from 2002-03 to 2014-15 using the chain volume method was 2.4%. To reach the $25 billion target by 2020 requires an annual average growth rate of 12.73% per annum.
* From the seller's point of view an FOB price must therefore include/recover his costs of transport from factory or warehouse, insurance and loading, because the seller is unable to charge these costs as extras once the FOB price has been stated. The FOB expression originates particularly from the meaning that the buyer is free of liability and costs of transport up to the point that the goods are loaded on board the ship.
** A volume index is most commonly presented as a weighted average of the proportionate changes in the quantities of a specified set of goods or services between two periods of time. Adoption of the chain volume measures will be able to measure more accurately the real changes of the economy.
Department of State Development