The NSW economy continues to defy global conditions with the latest trade figures showing strong growth in commodity and manufacturing exports.

Ports and Waterways Minister Joe Tripodi said container exports at Port Botany increased by 14.9 per cent in the 2008-09 financial year, making it the eighth consecutive year of container trade growth at the port.

“This is great news for our exporters, many of whom are based in rural and regional NSW, and is an excellent result given the world economic slowdown,” Mr Tripodi said.

Total container trade through Port Botany, including imports, reached a record 1.784 million TEUs (Twenty-foot Equivalent Units).

While this was up only 0.3 per cent compared to the previous financial year, Mr Tripodi said NSW was performing strongly compared to other parts of the world.

Sydney's container trade had been resilient in the context of overseas container ports, many of which have experienced reduced throughput this year due to the global economic crisis, including Rotterdam ((down 15 per cent), Long Beach (down 27 per cent) and Singapore (down 17.8 per cent).

The Port Botany result follows the announcement of another trade record for the Port of Newcastle.

Nearly 96 million tonnes of cargo valued at $17.01 billion was exported and imported through Newcastle in 2008-09, the ninth consecutive year the port has established a trade record.

The 2008-09 result is more than 2.5 million tonnes and a massive $6.66 billion dollars above the 2007-08 financial year.

“The 64 per cent increase in overall value is mainly the result of high coking and steaming coal prices and underscores Newcastle’s status as the world’s largest coal export port," Mr Tripodi said.

Mr Tripodi said NSW will be well placed to take full advantage of the next upswing in the world economy with both Port Botany and the Port of Newcastle undergoing major expansions and reform.

At Newcastle almost $1.5 billion of additional coal export capacity is under construction including a:

• • $1 billion coal export terminal being built by the Newcastle Coal Infrastructure Group (NCIG) due to commence operations in 2010;
• • $458 million expansion of Port Waratah Coal Services (PWCS) coal export capacity.

Mr Tripodi said the 14 Hunter Valley coal producers recently signed an historic coal export agreement with the Government which has the potential to unlock billions of dollars more in private investment and triple Newcastle’s capacity to 300 million tonnes a year.

“Sydney Ports Corporation is also well into the construction of the $1 billion Port Botany Container Terminal expansion which will assist in the more efficient movement of our exports to global markets," Mr Tripodi said.

“The Ports Growth Plan is delivering the infrastructure and efficiencies which will help keep NSW exporters competitive and provide much needed export revenue for the country."