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==Economy== {{See also|Economy of Australia}} [[File:Flindersmed.jpg|thumb|right|[[Flinders Medical Centre]]. The health care sector is a major employer in South Australia's economy]] As of 2016, South Australia had 746,105 people employed out of a total workforce of 806,593, giving an unemployment rate of 7.5%. South Australia's largest employment sector is health care and social assistance, making up 14.8% of the state's total employment, followed by retail (10.7%), education and training (8.6%), manufacturing (8%), and construction (7.6%).<ref name="abs.gov.au">{{cite web|url=https://dbr.abs.gov.au/region.html?lyr=ste&rgn=4|title= Region summary: South Australia|access-date=10 October 2022|website=[[Australian Bureau of Statistics]]}}</ref> South Australia's economy relies on exports more than any other state in Australia.<ref>{{Cite news|url=https://dfat.gov.au/about-us/publications/Documents/australias-trade-by-state-and-territory-2013-14.pdf|title=Australia's Trade by State and Territory 2013β14|date=February 2015|work=Australia Unlimited|access-date=28 February 2017|archive-url=https://web.archive.org/web/20151106014726/http://dfat.gov.au/about-us/publications/Documents/australias-trade-by-state-and-territory-2013-14.pdf|archive-date=6 November 2015|url-status=dead}}</ref> South Australia's [[credit rating]] was upgraded to AAA by [[Standard & Poor's]] in September 2004 and to AAA by [[Moody's]] in November 2004, the highest credit ratings achievable by any company or sovereign. The state had previously lost these ratings in the State Bank collapse. However, in 2012 Standard & Poor's downgraded the state's credit rating to AA+ due to declining revenues, new spending initiatives and a weaker than expected budgetary outlook.<ref name=pu12>{{cite news|last1=Puddy|first1=Rebecca|title=South Australia loses AAA rating in credit rating downgrade|url=http://www.theaustralian.com.au/national-affairs/state-politics/return-to-surplus-deferred-in-lean-south-australian-budget/story-e6frgczx-1226377225636|access-date=1 September 2015|newspaper=The Australian|date=31 May 2012}}</ref> South Australia receives the least amount of federal funding for its local road network of all states on a per capita and a per kilometre basis.<ref>{{cite web |url=http://www.aph.gov.au/house/committee/efpa/localgovt/submissions/sub308.pdf |title=Inquiry into Local Government and Cost Shifting |access-date=11 June 2007 |publisher=[[Australian House of Representatives]] |year=2003 |archive-url=https://web.archive.org/web/20070710045501/http://www.aph.gov.au/house/committee/efpa/localgovt/submissions/sub308.pdf |archive-date=10 July 2007}}</ref> [[File:Twilight Upon Wheat Fields (139677885).jpeg|thumb|Wheat fields at [[Nuriootpa, South Australia|Nuriootpa]]. Agriculture is a large industry for the state.]] [[File:CSIRO ScienceImage 4438 Sunflower crop.jpg|thumb|upright=0.7|right|Sunflower crop in the Adelaide Hills]] During 2019β20: South Australia's gross state product (GSP) fell 1.4% in chain volume (real) terms (nationally, gross domestic product (GDP) fell 0.3%).<ref>{{Cite web|title=Gross State Product|url=https://www.treasury.sa.gov.au/__data/assets/pdf_file/0010/322966/GSP-GDP,-2019-20.pdf|url-status=dead|website=Treasury South Australia|access-date=28 October 2021|archive-date=18 August 2021|archive-url=https://web.archive.org/web/20210818215419/https://www.treasury.sa.gov.au/__data/assets/pdf_file/0010/322966/GSP-GDP,-2019-20.pdf}}</ref> South Australia came out of the [[COVID-19 recession]] better than the other Australian states, with the economy growing by 3.9% in the 2020β21 financial year. This was the first time since the [[Australian Bureau of Statistics]] began collecting data in 1990 that South Australia had outperformed the other states. The recovery was driven in part by growth in the agricultural sector, which increased its production by almost 24% thanks to the end of a drought.<ref>{{cite web|url=https://www.smh.com.au/politics/federal/the-little-economies-that-could-sa-and-tasmania-lead-the-nation-20211119-p59afd.html|title=The little economies that could: SA and Tasmania lead the nation|last=Wright|first=Shane|date=19 November 2021|access-date=10 October 2022|website=[[The Sydney Morning Herald]]}}</ref> ===Agriculture=== ==== Cereals, legumes and oilseeds ==== [[Wheat]], [[barley]], [[oats]], [[rye]], [[peas]], [[beans]], [[chickpeas]], [[lentils]] and [[canola]] are grown in South Australia.<ref>{{cite web |last1=Lewis |first1=Dave |title="Crop and Pasture Report South Australia, 2021-22 Harvest" |url=https://www.pir.sa.gov.au/__data/assets/pdf_file/0006/406815/attachment-a-pirsa-crop-and-pasture-report-harvest-2021-22-jan.pdf |website=Government of South Australia, Department of Primary Industries and Regions |publisher=South Australian Department of Primary Industries and Regions (PIRSA) |access-date=17 November 2022}}</ref> ==== Fruit and vegetables ==== [[Apples]], [[pears]], [[cherries]] and [[strawberries]] are grown in the [[Adelaide Hills]].<ref name="SA Horticulture"/> [[Tomatoes]], [[capsicums]], [[cucumbers]], [[brassicas]], [[lettuce]] and [[carrots]] are grown on the Northern Adelaide Plains at [[Virginia, South Australia|Virginia]].<ref name="SA Horticulture"/> [[Almonds]], [[citrus]] and [[stone fruit]] are grown in the [[Riverland]].<ref name="SA Horticulture"/> [[Potatoes]], [[onions]] and carrots are grown in the [[Murray Mallee]] region.<ref name="SA Horticulture"/> Potatoes are grown on [[Kangaroo Island]].<ref name="SA Horticulture">{{cite web |title=Horticulture in South Australia |url=https://pir.sa.gov.au/__data/assets/pdf_file/0005/340376/Horticulture_in_South_Australia.pdf |website=Department of Primary Industries and Regions (PIRSA) |publisher=The Department of Primary Industries and Regions (PIRSA) |access-date=15 January 2023}}</ref> ==== Viticulture ==== {{main|South Australian wine}} South Australia produces more than half of all Australian wine, including almost 80% of Australia's premium wines.<ref name="SA Viticulture">{{cite web |title=Grape and wine |url=https://www.pir.sa.gov.au/primary_industry/grape_and_wine |website=Department of Primary Industries and Regions (PIRSA) |date=14 May 2022 |publisher=The Department of Primary Industries and Regions (PIRSA) |access-date=16 January 2023}}</ref> ===Energy=== {{main|Energy in South Australia}} South Australia has the lead over other Australian states for its commercialisation and commitment to [[renewable energy]]. It is now the leading producer of [[Wind power in South Australia|wind power]] in Australia.<ref name="Wind Energy - How it works">{{cite web|title=Wind Energy β How it works|url=http://www.cleanenergycouncil.org.au/cec/technologies/wind.html|publisher=Clearenergycouncil|access-date=6 October 2011|url-status=dead|archive-url=https://web.archive.org/web/20110621044310/http://www.cleanenergycouncil.org.au/cec/technologies/wind.html|archive-date=21 June 2011}}</ref> Renewable energy is a growing source of electricity in South Australia, and there is potential for growth from this particular industry of the state's economy. The [[Hornsdale Power Reserve]] is a bank of grid-connected batteries adjacent to the [[Hornsdale Wind Farm]] in South Australia's Mid-North region. At the time of construction in late 2017, it was billed as the largest lithium-ion battery in the world.<ref>{{cite web |url=http://hornsdalepowerreserve.com.au/ |title=Hornsdale Power Reserve |access-date=4 December 2017}}</ref> ===Mining=== The [[Olympic Dam, South Australia|Olympic Dam]] mine near [[Roxby Downs, South Australia|Roxby Downs]] in northern South Australia is the largest deposit of [[uranium]] in the world, possessing more than a third of the world's low-cost recoverable reserves and 70% of Australia's. The mine, owned and operated by [[BHP]], presently accounts for 9% of global uranium production.<ref>{{cite web |url=https://www.bloomberg.com/apps/news?pid=newsarchive&sid=aPGvMTxVcp2k&refer=australia | title = Australia, China Sign Agreements for Uranium Trade (Update5) | author1 = Gemma Daley | author2 = Tan Hwee Ann | publisher = Bloomberg | date = 3 April 2006 | access-date = 27 April 2012 }}</ref><ref>{{cite web |url=http://www.ga.gov.au/ausgeonews/ausgeonews200512/uranium.jsp | publisher = AusGeo News | date = December 2005 | title = Why Australia has so much uranium | author1 = Ian Lambert | author2 = Subhash Jaireth | author3 = Aden McKay | author4 = Yanis Miezitis | access-date = 27 April 2012}}</ref> The Olympic Dam mine is also the world's fourth-largest remaining copper deposit, and the world's fifth largest gold deposit.<ref>{{Cite news|url=https://www.reuters.com/article/bhpbilliton-olympicdam-idUSSYD52655220091021|title=FACTBOX-BHP Billiton's huge Olympic Dam mine|date=21 October 2009|work=Reuters|access-date=24 May 2019|language=en|archive-url=https://web.archive.org/web/20190524154213/https://www.reuters.com/article/bhpbilliton-olympicdam/factbox-bhp-billitons-huge-olympic-dam-mine-idUSSYD52655220091021|archive-date=24 May 2019|url-status=live}}</ref> There was a proposal to vastly expand the operations of the mine, making it the largest open-cut mine in the world,<ref>[https://archive.today/20120910000234/http://www.skynews.com.au/finance/article.aspx?id=736400&vId= Sky News Australia β Finance Article<!-- Bot generated title -->]</ref> but in 2012 the BHP Billiton board decided not to go ahead with it at that time due to then lower commodity prices.<ref>[http://www.abc.net.au/news/2012-08-22/bhp-billiton-profit-falls-a-third/4215638 BHP shelves Olympic Dam as profit falls a third]. [[ABC News (Australia)|ABC News]], 22 August 2012. Retrieved on 16 July 2013.</ref> The remote town of [[Coober Pedy]] produces more [[opal]] than anywhere else in the world. Opal was first discovered near the town in 1915, and the town became the site of an opal rush, enticing immigrants from southern and eastern Europe in the aftermath of [[World War II]].<ref>{{cite web|url=https://www.gemsociety.org/article/opal-mining-coober-pedy/|title=Opal Mining in Coober Pedy: History and Methods|last=Shang|first=Phoebe|access-date=16 October 2022|website=[[International Gem Society|IGS]]}}</ref> ===Education and research=== Higher education and research in Adelaide forms an important part of South Australia's economy. The [[Government of South Australia|South Australian Government]] and educational institutions have attempted to position Adelaide as ''Australia's education hub'' and have marketed it as a ''Learning City''.<ref name="eduhub">{{cite news |first=Verity |last=Edwards |title=Education attracts record numbers |work=The Weekend Australian |date=3 May 2008}}</ref> The number of international students studying in Adelaide has increased rapidly in recent years to 30,726 in 2015, of which 1,824 were secondary school students.<ref name="thecity">{{cite news |first=Amelia |last=Broadstock |title=International Uni student numbers a billion dollar boom for Adelaide |work=The City Messenger |date=6 May 2015}}</ref> Foreign institutions have been attracted to set up campuses to increase its attractiveness as an education hub.<ref name="UCL">{{cite news |first=Lucy |last=Hodges |url=https://www.independent.co.uk/news/education/higher/brave-new-territory-university-college-london-to-open-a-branch-in-australia-835571.html |title=Brave new territory: University College London to open a branch in Australia |work=The Independent (UK) |date=29 May 2008 |access-date=23 August 2017 |archive-url=https://web.archive.org/web/20110317175924/http://www.independent.co.uk/news/education/higher/brave-new-territory-university-college-london-to-open-a-branch-in-australia-835571.html |archive-date=17 March 2011 |url-status=live }}</ref><ref>{{cite web|url=http://www.heinz.cmu.edu.au/about-heinz-australia/index.aspx |title=About Heinz Australia: Carnegie Mellon Heinz College |publisher=Carnegie Mellon University |url-status=dead |archive-url=https://web.archive.org/web/20110410081304/http://www.heinz.cmu.edu.au/about-heinz-australia/index.aspx |archive-date=10 April 2011 }}</ref> Adelaide is the birthplace of three Nobel laureates, [[List of Australian Nobel laureates#Australian laureates by birthplace|more than any other Australian city]]: physicist [[William Lawrence Bragg]] and pathologists [[Howard Florey]] and [[Robin Warren]], all of whom completed secondary and tertiary education at [[St Peter's College, Adelaide|St Peter's College]] and the [[University of Adelaide]]. Adelaide is home to research institutes, including the [[Royal Institution of Australia]], established in 2009 as a counterpart to the two-hundred-year-old [[Royal Institution]] of Great Britain.<ref>{{cite news |first=Verity |last=Edwards |title=RI Australia plugs into world science |work=The Weekend Australian |date=3 May 2008}}</ref> Most of the research organisations are clustered in the Adelaide metropolitan area: * The east end of [[North Terrace, Adelaide|North Terrace]]: [[SA Pathology]];<ref>[http://www.imvs.sa.gov.au/wps/wcm/connect/SA+Pathology+Internet+Content/IMVS/About+Us/History/ History] {{Webarchive|url=https://web.archive.org/web/20110116192755/http://www.imvs.sa.gov.au/wps/wcm/connect/SA+Pathology+Internet+Content/IMVS/About+Us/History/ |date=16 January 2011 }}, [http://www.imvs.sa.gov.au/wps/wcm/connect/SA+Pathology+Internet+Content/IMVS/About+Us/Our+Research/ Our research] {{Webarchive|url=https://web.archive.org/web/20110116192806/http://www.imvs.sa.gov.au/wps/wcm/connect/SA+Pathology+Internet+Content/IMVS/About+Us/Our+Research/ |date=16 January 2011 }}, Institute of Medical and Veterinary Science</ref> [[Hanson Institute]];<ref>[http://www.hansoninstitute.sa.gov.au/ About us] {{Webarchive|url=https://web.archive.org/web/20080725031302/http://www.hansoninstitute.sa.gov.au/ |date=25 July 2008 }}, [http://www.hansoninstitute.sa.gov.au/aboutus/history.php History], Hanson Institute</ref> [[National Wine Centre of Australia|National Wine Centre]]. * The west end of North Terrace: [[South Australian Health and Medical Research Institute]] (SAHMRI), located next to the [[Royal Adelaide Hospital]]. * The [[Waite Research Precinct]]: [[South Australian Research and Development Institute|SARDI]] Head Office and Plant Research Centre; [[Australian Wine Research Institute|AWRI]];<ref>[http://www.awri.com.au/ The Australian Wine Research Institute (AWRI)] {{Webarchive|url=https://web.archive.org/web/20101225174859/https://www.awri.com.au/ |date=25 December 2010 }}, awri.com.au</ref> [[Australian Centre for Plant Functional Genomics|ACPFG]];<ref>[http://www.acpfg.com.au/ Australian Centre for Plant Functional Genomics (ACPFG)] {{Webarchive|url=https://web.archive.org/web/20101218142922/http://www.acpfg.com.au/ |date=18 December 2010 }}, acpfg.com.au</ref> [[CSIRO]] research laboratories.<ref name="CSIROWaite">{{cite web | title=Waite Campus, Urrbrae | website=CSIRO | date=6 September 2019 | url=https://www.csiro.au/en/Locations/SA/Urrbrae | access-date=6 September 2019 | archive-url=https://web.archive.org/web/20190906061825/https://www.csiro.au/en/Locations/SA/Urrbrae | archive-date=6 September 2019 | url-status=live }}</ref> SARDI also has establishments at [[Glenside, South Australia|Glenside]]<ref>{{cite web |url=http://www.sardi.sa.gov.au/about_us_2/facilities/glenside_laboratories |title=Livestock β Glenside Laboratories |access-date=6 January 2011 |archive-url=https://web.archive.org/web/20110219151446/http://www.sardi.sa.gov.au/about_us_2/facilities/glenside_laboratories |archive-date=19 February 2011 |url-status=live }}</ref> and [[West Beach, South Australia|West Beach]].<ref>{{cite web |url=http://www.sardi.sa.gov.au/about_us_2/facilities/sa_aquatic_sciences_centre/sa_aquatic_sciences_centre |title=SARDI |access-date=6 January 2011 |archive-url=https://web.archive.org/web/20110219154303/http://www.sardi.sa.gov.au/about_us_2/facilities/sa_aquatic_sciences_centre/sa_aquatic_sciences_centre |archive-date=19 February 2011 |url-status=live }}</ref> * [[Edinburgh, South Australia]]: [[Defence Science and Technology Organisation|DSTO]]; [[BAE Systems]] (Australia); [[Lockheed Martin]] Australia Electronic Systems. * [[Technology Park Adelaide|Technology Park]] ([[Mawson Lakes, South Australia|Mawson Lakes]]): BAE Systems; [[Optus]]; [[Raytheon]]; [[Topcon]]; Lockheed Martin Australia Electronic Systems. * Research Park at [[Thebarton, South Australia|Thebarton]]: businesses involved in materials engineering, biotechnology, environmental services, information technology, industrial design, laser/optics technology, health products, engineering services, radar systems, telecommunications and petroleum services. * Science Park (adjacent to Flinders University): Playford Capital. * The [[Basil Hetzel]] Institute for Translational Health Research<ref>{{cite web |title=A great of the SA science world |url=https://www.adelaidenow.com.au/news/south-australia/a-great-of-the-sa-science-world/news-story/9338949922d55092230a3a77e2b749c9 |website=The Advertiser|location=Adelaide |date=24 May 2012 |access-date=9 March 2019 |archive-url=https://web.archive.org/web/20181215223914/https://www.adelaidenow.com.au/news/south-australia/a-great-of-the-sa-science-world/news-story/9338949922d55092230a3a77e2b749c9 |archive-date=15 December 2018 |url-status=live }}</ref> in [[Woodville, South Australia|Woodville]] the research arm of the [[Queen Elizabeth Hospital, Adelaide]] * The [[The Joanna Briggs Institute|Joanna Briggs Institute]], a global research collaboration for evidence-based healthcare with its headquarters in North Adelaide. <gallery mode="packed"> File:Bonython Hall.jpg| The Mitchell Building and Bonython Hall, [[University of Adelaide]] File:Hawke Building, UniSA.jpg| The Hawke Building, part of the [[University of South Australia|UniSA]], City West Campus File:Flinders from hill 3.jpg| [[Flinders University]] buildings from the campus hills File:Torrens Building, Victoria Square.jpg| Torrens University File:SAHMRI.jpg|The [[South Australian Health and Medical Research Institute]] (SAHMRI) </gallery>
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