Today’s increase in both exports and retail trade confirm that the Tasmanian economy is back on track after the dark years of the Labor-Green Government.
ABS figures show that Tasmania’s trade exports increased by 8.4 per cent in the last 12 months, second only to the ACT over that period. Over the same period, overall Australian trade declined by 6.2 per cent.
Trade with our largest trading partner, China, is up a staggering 52.5 per cent to $828 million in the last 12 months – a further vindication of our ongoing close engagement with China.
This is a fantastic outcome for Tasmanian businesses and the economy, and will support the creation of more jobs in the state.
In addition, retail trade increased in Tasmania in March 2016 for the 17th consecutive month, 0.2 per cent on the previous month, to a new record of $493.1 million in trend terms. This represents a growth of 4.2 per cent compared with the same month one year earlier.
Since we came to office, retail trade in Tasmania has grown by seven per cent.
There’s still a long way to go and more work to do, but our economy is clearly now back on track.