My state of Victoria hits record export levels and is open for business

Forgive me for being parochial in this blog, but I just have to talk about my home city of Melbourne and our state of Victoria – so well known to tourists for the Great Ocean Road (pictured below).

greatoceanroad

Victoria’s exports have hit record levels and are still growing as the Victorian Government helps more Victorian companies break into global markets and create local jobs. Exports from Victoria grew 6.45 per cent to reach a record $51.6 billion in 2017-18.

Victoria’s services export performance has been particularly strong. Valued at $22.5 billion in 2017, it now represents more than 40 per cent of total Victorian exports.

This has been driven by sectors like international education, which has grown 98 per cent since 2012 to $9.8 billion, and tourism which is up 62 per cent to $4.8 billion over the same period.

melbourne

Medical technologies and pharmaceuticals, a key sector identified for support through the government’s $200 million Future Industries Fund, has seen substantial growth, with exports of pharmaceutical products surging 72 per cent in the past two years to $1.56 billion.

Victoria is Australia’s biggest exporter of food and fibre, another key sector the Victorian Government is supporting, with exports reaching a record $12.8 billion in 2016-17. Victoria now accounts for 79 per cent of Australia’s dairy exports, 52 per cent of animal fibre, 45 per cent of horticulture and 38 per cent of prepared foods exports.

Victoria’s export growth is even more impressive given it has come over a period when the state’s single biggest exporter, Toyota, ceased production, highlighting the diversity and strength of our export sector.

mcgmelb

The Victorian Government offers a range of services to help local businesses get export ready, prepare market strategies and understand regulatory requirements so they can start taking their products and services to the world.

Since December 2014, more than 4600 Victorian companies have participated in 130 government-supported inbound and outbound trade missions, resulting in more than $267 million of actual export sales.

The government has also grown Victoria’s network of international trade and investment offices (VGTIs) to 22, which is more than any other state, and put in place strategies to grow trade and investment with key markets including ChinaIndiaLatin America, and Southeast Asia.

So – looking for a dynamic, quality partner or location for business and education? Try Victoria!

Spur

Above pic – just one hour drive from Melbourne CBD is the beautiful wine and food area the Yarra Valley and one of the great forest drives, the Black Spur.

Author: Stephen Manallack

Former President, Australia India Business Council, Victoria and Author, You Can Communicate; Riding the Elephant; Soft Skills for a Flat World (published by Tata McGraw-Hill INDIA); Communicating Your Personal Brand. Director, EastWest Academy Pty Ltd and Trainer/Speaker/Mentor in Leadership, Communication and Cross Cultural Communication. Passionate campaigner for closer western relations with India. Stephen Manallack is a specialist on “Doing Business with India” and advisor/trainer on “Cross-Cultural Understanding”. He is a Director of EastWest Academy Pty Ltd which provides strategic advice and counsel regarding business relations with India. A regular speaker in India on leadership and global communication, his most recent speaking tour included a speech to students of the elite Indian university, Amity University, in Noida. He also spoke at a major Federation of Indian Chambers of Commerce and Industry (FICCI) global summit, the PR Consultants Association of India in Delhi, the Symbiosis University in Pune and Cross-Cultural Training for Sundaram Business Services in Chennai. He has visited India on business missions on 10 occasions and led three major trade missions there. He provides cross-cultural training – Asia and the west.

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