The value of Victoria’s international goods exports soared 11.5 per cent over the 12 months to January 2018, and marks the strongest growth out of all the mainland states.
Australian Bureau of Statistics data released on 8 March 2018, shows A$26.3 billion in goods were exported from Victoria over that period, which is the highest level ever recorded.
The results are even more impressive when compared to national goods exports, which fell 3.8 per cent over the year to January 2018.
"Victoria's record international trade reflects strong business confidence and growth in new markets that we are opening up to the world" Minister for Trade and Investment, Philip Dalidakis.
Today’s exceptional economic data caps off a week of extraordinary results for the Victorian economy, with state final demand, retail, and international trade, and building approvals all performing well.
Victoria’s robust construction activity and record exports reflect an economy in top gear, fuelled by Victorian Government’s pipeline of major infrastructure projects and the private sector’s strong confidence in the state’s economy.
- Victoria has a proven track record with annual exports exceeding A$43 billion across a diverse range of industries.
- Sectors such as tourism, international education, professional services, and food and fibre are leading Victoria's export expansion.
- Victorian business owners who attend trade missions see their export sales increase by an average of 219 per cent within 12 months, and 345 per cent within 24 months.
- 80 per cent of Australia's dairy exports comes from Victoria.
- Launched in 2016, the A$273 million Future Industries Fund is a key component of Victorian Government's integrated approach to driving exports.