THE Agriculture, fishing and forestry sector has been a major driver behind record economic growth in SA, new data reveals.
Data released by the Australian Bureau of Statistics recently showed that SA's Gross State Product grew by 5.1 per cent in 2021/22, the second fastest rate in the country behind Vic.
It was the strongest year of economic growth for the state in almost 25 years.
The growth compares to a national figure of 3.6pc and follows a 4.7pc rise the previous year.
Of the 5.1pc increase, agriculture accounted for 1.3pc and was the largest contributing industry ahead of construction at 0.7pc.
Agriculture, forestry and fishing's personal GSP rose by 26.2pc, on the back of strong commodity prices and a reasonable season.
SA Treasurer Stephen Mullighan said it was pleasing to see SA's economy recovering strongly from the worst of the COVID pandemic and three years of slowing growth rates.
"Key drivers of the year's result were bumper crops and higher commodity prices, as well as the federal government's HomeBuilder scheme," he said.
"This strong result - along with our state recording the highest ever number of people in jobs - puts us in a strong position as we head into a slowing global and national economic environment next year."
Further independent data released by the Australian Meat Processor Corporation, this week, found the red meat processing industry added $1 billion of economic value to SA and $21b nationally.
The Our Steak In Australia report estimated SA's red meat processing sector supported the equivalent of 6000 full time jobs and approximately $310 million of household income each year.
AMPC chief executive officer Chris Taylor said the report was conducted to highlight the industry's economic activity and contribution, and results revealed the sheer number of jobs created in SA and across Australia.
"In 2022, red meat processors were estimated to support a staggering 138,000 jobs and $7.6b in annual household income in Australia, but more importantly, each of these jobs supports a family," he said.
"Local jobs and economic activity created by red meat processing in regional SA are essential to supporting a range of small businesses like farmers and retailers to survive across the state."
