Victorian manufacturing continues to grow – supporting jobs, exports and economic growth across the state.
The Australian Industry Group’s monthly Performance of Manufacturing Index shows that Victoria’s manufacturing index has grown for 12 consecutive months, the longest run of expansion since 2003.
The growth comes as Victorian manufacturing continues to go through a major period of transition following the end of passenger vehicle manufacturing.
The strong performance of the industry demonstrates the effectiveness of Victorian Government programs like the Future Industries Manufacturing Program and the Local Industry Fund for Transition.
The Victorian Government has committed over $100 million in manufacturing support, creating over 3,500 jobs and driving more than $1.2 billion in private investment.
The Victorian Government’s Advancing Victorian Manufacturing – A Blueprint for the Future sets out a clear vision for the future of manufacturing, showcasing existing advanced manufacturing capabilities and outlining ways to grow.
Victoria’s manufacturing industry contributes $27.7 billion to the Victorian economy, is made up of more than 13,000 businesses and employs more than 286,000 people, an increase of more than 20,000 over the last two years.
This bucks the national trend, with the rest of Australia losing 2,500 manufacturing jobs over the same period.
Manufacturing is Victoria’s fourth largest employer and is responsible for $17.9 billion worth of goods exports.
Source: Vic Government