South Australia

South Australia is a state of Australia, in the southern central part of the country, along the Southern Ocean. It covers an area of 984 377 km² (380 070 square miles). South Australia is known as both the Festival State and the Wine State and its capital is Adelaide. South Australia became a British province in 1836 and joined the Commonwealth of Australia in 1901. The state's population is approximately 1.53 million (2004). Most of those reside in the fertile coastal areas and in the valley of the Murray River.

Economy

The manufacturing industry plays a very important role in South Australia's economy, generating 15% of the state's Gross State Product and playing a large part in exports. The manufacturing industry is made up of automotive and component manufacturing, pharmaceuticals and defence technology. South Australia's economy relies on export more than any other state in Australia, which stands at AUD$10 billion worth per year, which grew by 8.8% from 2002 to 2003.

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South Australia's economic growth has lagged behind the rest of Australia for some time (grew by 2.1% from 2002 to 2003), but performance seems to be improving (grew by 4.3% in 2003/2004). South Australia's credit rating was recently upgraded to AAA+, having lost it in the State Bank collapse. South Australia's Gross State Product was AUD$48.9 billion starting 2004, making it AUD$32,996 per capita.

Related Topics:
Credit rating - State Bank - AUD

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South Australia's economy is made of the following industries:

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• Services - 66.7%
• Manufacturing - 14.2%
• Agriculture, Forestry and Fishing - 4.5%
• Mining - 2.2%
• Other - 10.7%