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    Media Statements

    Coat of ArmsMedia Release
    JOINT STATEMENT
    Premier and Minister for the Arts
    The Honourable Annastacia Palaszczuk
    Treasurer, Minister for Aboriginal and Torres Strait Islander Partnerships and Minister for Sport
    The Honourable Curtis Pitt

    Qld secures record export sales -equivalent of $1B per week

    JOINT STATEMENT

    Premier and Minister for the Arts
    The Honourable Annastacia Palaszczuk

    Treasurer, Minister for Aboriginal and Torres Strait Islander Partnerships and Minister for Sport
    The Honourable Curtis Pitt

    Wednesday, February 08, 2017

    Qld secures record export sales -equivalent of $1B per week

    Queensland earned a record $52 billion from exports last year, new ABS data has confirmed.

    Premier Annastacia Palaszczuk said the value of the State's exports after the value of exports increased by 7.9%, from $48.9 billion to $52.7 billion, in 2016 compared to 2015. The 2016 result is more than $8 billion higher than two years ago, when total exports were valued at $44.3 billion.

    “I congratulate the thousands of Queensland businesses and the tens of thousands of Queenslanders putting our produce and products on the world market," the Premier said.

    "Queensland exports were the equivalent of $1 billion each week in 2016.

    “In fact, December 2016 was the best month ever for Queensland goods exports with $6.7 billion in sales."

    The Premier said the Government was championing trade with targeted missions into key markets and broadening its presence overseas with new trade offices in Chengdu (China) and Singapore.

    Ms Palaszczuk said the big increases in export earnings were secured in Asian nations where the Queensland Government operates trade offices.

    "China is up 12.5 per cent. India is up 17.8 per cent; Korea is up 17.3 per cent and Taiwan increased by 18.2 per cent,” she said.

    "In Singapore exports rose 18.8 per cent, Malaysia grew by 56.4 per cent and exports to Vietnam were up by 45.6 per cent."

    Queensland’s fruit and vegetables sector performed strongly – rising by nearly 34 per cent in 2016, with exports worth $1.2 billion.

    Treasurer Curtis Pitt said the trade figures showed the Palaszczuk Government’s economic plan was working to deliver growth, create jobs, and further diversify the state’s economy.

    “If it were not for our strong state economy, the minus-0.5 per cent slump in GDP in the September 2016 quarter announced by Federal Treasurer Scott Morrison in December would have been worse,” Mr Pitt said.

    “These trade figures are confirmation of the strength of our key resources and agriculture sectors and our state economy which is predicted to achieve nation-leading growth."

    Mr Pitt said other recent independent surveys and indicators underlined the strength of the Queensland economy:

    • retail trade turnover figures released by the ABS for the December quarter showed an annual rise of 2.1 per cent in Queensland, just behind SA and Tasmania at 2.3 per cent and ahead of NSW (1.8 per cent) and Victoria (1.6 per cent),
    • Suncorp Group/CCIQ’s Pulse Survey of Business Conditions showed Queensland businesses believe conditions improving,
    • the NAB monthly business survey for December 2016 showed Queensland leading the nation in business confidence with a rise of two points in its ranking to reach +9 while NSW fell by three points to reach +5, and Victoria rose by two points to +5.
    • the Deloitte Access EconomicsBusiness Outlookfor December 2016 forecasts Queensland to record the strongest economic growth in the nation from 2016-17 to at least 2020-21,
    • the latest Deloitte Access EconomicsInvestment Monitorfor the December quarter 2016 shows a $152.2 billion pipeline of major projects in Queensland — leading New South Wales ($132.2 billion), and Victoria ($68.2 billion),
    • Bankwest’s Future of Business report showed small and medium-sized businesses had the nation’s highest level of confidence about their future prospects;
    • the state’s unemployment rate has fallen from 6.6 per cent on a trend basis at the time of the 2015 election to reach 6.0 per cent in December 2016.

    “All these indicators and hard data show that under our economic plan growth is up, business confidence is up, and unemployment is down – all without the asset sales the LNP supports that will cost jobs,” Mr Pitt said.

    Media contact: Kirby Anderson (Premier’s office) 0417 263 791