Strong State Final Demand growth a positive sign for SA economy
Release date: 20/11/25
South Australia’s economy is forging ahead, with the equal fastest growing State Final Demand of the mainland states in 2024-25.
State Final Demand (SFD) rose by 3.0 per cent in 2024-25, equalling Western Australia, and significantly outpacing national growth, which had Domestic Final Demand at 2.1 per cent.
Our Gross State Product increased 1.0 per cent, fuelled by residential construction, with services industries including financial and health care services also bolstering the growth.
These sectors have helped offset the impacts of drought on agricultural production in the last financial year, with dwelling investment up a significant 12 per cent.
The State Accounts data for 2024-25 released today by the Australian Bureau of Statistics is the latest in a series of endorsements of South Australia’s economic direction under the Malinauskas Labor Government, with a record 986,500 people employed according to the Labour Force data for October.
Last week, the Business Council of Australia declared South Australia the best place in the nation to do business for the third year running, with its annual Regulation Rumble report endorsing our competitive tax, regulatory and planning settings.
Quotes
Attributable to Tom Koutsantonis
South Australia’s State Final Demand growth of 3.0 per cent in 2024-25 was the equal highest of the mainland states, alongside Western Australia – a strong reflection that we are in a robust position to weather economic challenges.
The Malinauskas Government has focussed strongly on addressing housing supply, so it’s heartening that our economic growth is significantly on the back of big investments in residential construction.
Today’s State Accounts are the latest in a series of positive endorsements of South Australia’s economic direction, with a record number of South Australians in jobs in the previous month and the national Business Council of Australia again endorsing our state as the best place in the nation to do business.
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