28 Feb 2013 – AAP –
China remains New South Wales’ largest bilateral trading partner and coal continues to be the largest export, new figures show.
Releasing the latest NSW Trade and Investment Report, Mr Stoner said NSW exports are up again after a drop in 2009/10 due caused by the global financial crisis and slowdown in world growth.
In 2011/12, total exports rose by 7.8 per cent, with goods exports rising by 11 per cent.
Services exports increased by 1.2 per cent, which Mr Stoner said was driven largely by growth in financial and professional services exports.
“Coal continues to be the state’s largest export,” he said, adding it was worth $14 billion or 24 per cent of total exports in 2012.
Education-related travel and tourism were NSW’s largest services exports.
“Japan remains our largest goods export market and China is our largest bilateral trading partner,” Mr Stoner said.
The value of goods exports dropped by 2.5 per cent in the second half of the 2012 calendar year.
Mr Stoner said the diversity of the NSW economy should allow it to cope with moderating mineral export prices.
He said NSW’s trade performance has improved despite continuing global financial uncertainty.
“We have engaged with business and industry to understand their issues, we are addressing strategic infrastructure needs and we are raising the global profile of Sydney and NSW,” he said in a statement.