Friday 16th Nov, 2018

Vic exports surged in the past FY

Office of Tim Pallas
Office of Tim Pallas

GOODS and services exports from Victoria grew more than 10% over the year to June, according to figures recently released by the Australia Bureau of Statistics (ABS).

Victoria’s exports growth was the strongest in the country for the period and the highest the state has seen in five years, according to a statement from Treasurer Tim Pallas.

Balance of payment figures from the ABS show $46bn in goods and services were exported from Victoria during the year.

By comparison, Australia’s total export volume of goods and services increased by 4.3% over the year.

Mr Pallas said the state’s economy was generating an extraordinary volume of goods and services to meet the growing international demand for high-quality products.

“Our growing export markets mean more jobs for Victorians and more opportunities for Victorian businesses,” he said.

Looking at Australia as a whole, the ABS figures show the country’s current account deficit increased to $9.6bn in the June quarter (seasonally adjusted), an increase of $4.8bn.

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