Victorian Retail Trade Up 4.7 % Year To April 2018

Victorian Retail Trade Up 4.7 % Year To April 2018

Victoria Treasurer Tim Pallas

Victorian Retail Spending Booming

Victor P Taffa

In yet another sign of a strong economy and strong consumer confidence, Victorian retail trade growth was the highest of all states in the year to April 2018.

“This continues the good economic news for Victoria, which is good for local jobs and good for local businesses.” Treasurer Tim Pallas said.

“Since we were elected in November 2014, we have created more than 320,000 jobs for Victorians ensuring more Victorian families have the security of an income, and money to spend at our retailers.”

New data released today by the Australian Bureau of Statistics shows Victorian retail trade has grown by 4.7 % over the year, or $310 Million above the national average of 2.6 %.

Victorian results were 1.1 % higher than New South Wales (3.6 %) and 1.9 % higher than Tasmania (2.8 %).

Over the year to April, Victorian retail turnover totalled $80.5 Billion making up more than a quarter of national retail turnover (25.6 %).

Retail trade also grew by $23.9 Million across the State in April, contributing to bumper retail growth throughout the year.

Key drivers of annual retail growth are ‘other retailing’ including:

  • Pharmaceutical goods (8.5 %),
  • Household goods retailing (5.5 %),
  • Food retailing (4.8 %).