Retail trade in Tasmania is strong and showing continued resilience in the face of national economic headwinds, as demonstrated by the Australian Bureau of Statistics’ latest data release today.
The nominal value of retail trade in Tasmania was estimated to be $722.8 million in March 2024, up 0.2 per cent compared with the previous month and up 2.8 per cent compared to the level recorded this time last year.
Treasurer Michael Ferguson said the annual growth in retail trade in Tasmania is the second strongest of all states and territories, and more than double the growth nationally.
“Retail turnover in Tasmania has grown significantly over the past 10 years, and is at an all-time high under the Rockliff Liberal Government,” the Treasurer said.
“This is great news for our local economy, providing job security and demonstrating that Tasmanians have the confidence to spend in their local shops, restaurants and other retailers.
“We know that Tasmanians are responding to cost of living pressures, which is why our Strong 2030 Plan is more important than ever, to provide Tasmanian retailers with the confidence to continue to employ more people and grow our economy.”