Growing The Economy And Getting Things Done

12:47' 04-05-2018

Victoria is leading the nation with bumper building growth and a solid boost to the state’s thriving international goods trade, reflecting Victoria’s position as the nation’s powerhouse economy.

Photo: Government News

Australian Bureau of Statistics data released today shows the value of Victoria’s building approvals totalled $41.4 billion for the twelve months to March – the highest in Australia and contributing nearly a third (32.7 per cent) of the entire value of the nation’s building approvals.

Victoria’s building approvals for March 2018 alone were valued at $3.54 billion – the highest total value of all the states.

This figure also represents a 7.7 per cent growth in the value of Victorian building approvals during the month of March – a stark contrast to the 21.4 per cent decrease across the border in New South Wales.

Nationally, building approvals also decreased over the month.

Meanwhile, Victoria’s international trade grew significantly with a boost of 8.8 per cent in the year to the March quarter – representing the strongest growth of all mainland states.

Nationally, international trade growth was up just 3.2 per cent during the year.