Retail trade hits a new record in Tasmania

Australian Bureau of Statistics data released today shows retail trade in Tasmania hit a record high in August 2024.

The nominal value of retail trade in Tasmania was estimated to be $722.4 million, up 0.11 per cent compared with the previous month and up 2.95 per cent compared to the level recorded this time last year.

Tasmania’s growth rate compared to August 2023 was the second highest state over that period, only behind Western Australia, and ahead of the national growth rate of 2.6 per cent.

Treasurer, Michael Ferguson, said the continued growth of our retail sector is an indicator that Tasmania’s economy is strong and resilient in the face of the twin economic challenges of high inflation and high interest rates. 

“Despite these factors, Tasmanians still have the confidence to spend, which in turn gives our businesses the confidence to continue to employ and invest in Tasmania,” he said. 

“This shows that our economic plan is working and that the Tasmanian economy is benefitting from the leadership of this Government.

"We will continue to do all we can to support the Tasmanian economy through our 2030 Strong Plan for Tasmania’s Future.”