Victoria’s Building and Export Sectors Surge

02 November 2017

The latest building approvals and international trade data shows Victoria’s dynamic economy continues to generate robust business activity across the state.

New data from the Australian Bureau of Statistics (ABS) released today shows Victoria experienced the largest growth in September among all mainland states for non‑residential building approvals – more than 35 per cent. That’s 7.0 per cent higher over the year.

Overall, the total value of Victorian building approvals in September increased by 14.5 per cent to $3.49 billion.

Over the year, the total value of Victorian building approvals is up 2.3 per cent, compared to a national decline of 9.5 per cent during the same period.

Today’s strong building data coincides with the release of the latest international trade figures from the ABS, which shows Victoria’s exports of goods increased by more than 12 per cent over the year to $2.23 billion.

In total, Victorian exports during the year were worth $25.5 billion.

The strong building approvals and trade figures are consistent with a range of economic indicators that underline the strength of the Victorian economy, which has created more than 280,000 jobs since the Andrews Labor Government was elected.

Quotes attributable to Treasurer Tim Pallas

“These figures show our dynamic economy continues to generate real jobs for Victorians, with more than 280,000 jobs created since the Andrews Labor Government was elected.”

“Victoria’s surging international trade is a direct reflection of our global standing as a world-class producer of export goods.”

“Today’s data means more job opportunities, as well as continued business growth and sustainability.”

Reviewed 19 August 2020

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