Retail trade in Tasmania remains strong 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 $721.8 million in May 2024.
This number is an all-time high and represents a 3.3 per cent increase on May 2023, leading all states and territories over this period.
Nationally the increase was 1.5 per cent, less than half Tasmania’s growth.
Treasurer Michael Ferguson said that the figures show the underlying strength of the Tasmanian economy.
“This is great news for Tasmania’s economy. It shows that Tasmanians have the confidence to spend in their local shops, restaurants and other retailers. This gives businesses confidence to invest and helps provide job security for Tasmanians,” Treasurer Ferguson said.
“Retail trade in Tasmania has grown significantly over the past 10 years, and is at an all-time high under the Rockliff Liberal Government.
"These results demonstrate the false claims in Labor's negative agenda and the benefits of a positive and clear plan, such as our 2030 Strong Plan for Tasmania’s Future.
“A key goal of our 2030 Strong Plan is to continue to provide businesses with the conditions and confidence to continue investing in Tasmania, and we are getting on with providing the stability and certainty that Tasmanians expect.”