VICTORIA’S government has announced the state’s exports have grown by more than $2 billion in the past 12 months, claiming it as the largest increase in exports across Australia.

Data released by the Australian Bureau of Statistics yesterday (4 September) showed that Victoria’s exports increased by 3.6% in the June quarter to $17.6 billion, which the state government is calling a record.

State premier Jacinta Allan claimed Victoria saw the strongest growth amongst the states, reporting exports of goods and services to have increased by almost a third since 2015, with exports jumping a further 13.2% over the past year.

“Growing export markets builds the economy and creates jobs and an additional 26,300 Victorians were employed in July 2024 – raising total employment to a record 3.7 million,” Allan’s announcement said.

The premier also claimed that more than 850,000 new jobs had been created in Victoria since 2014.

The year to March 2024 also saw Victoria’s business investment grow by more than 9%, the second largest increase of the states, and more than 2% above the national growth.

Allan said the strong trade data reaffirms the importance of international exports to the state, underlining international education as the state’s largest export.

Victoria holds 30% of the national market share of international student enrolments, with international students generating $14.8 billion in export revenue in 2023, supporting approximately 63,000 local jobs, according to the premier.

Treasurer of Victoria Tim Pallas said, “We’re focused on growing trade and attracting investment because we know how important they are for local jobs and increased opportunity”.

“The strength of our export trade underlines the strength of our economy, which is supporting families, creating jobs and backing Victorian businesses.”

Premier Allan affirmed the government’s priority was to maintain the state’s global reputation as an open and welcoming destination, while supporting international students to join the state’s pool of talent.

“It’s why the Commonwealth Government must reconsider its cap on international students, which risks damaging Australia’s international education standing and economy,” Allan said.