Our plan has Tasmania on track for continued economic growth
18 July 2022
Michael Ferguson,
Treasurer
The Deloitte Access Economics Business Outlook for the June 2022 quarter confirms that our clear plan to strengthen Tasmania’s future is working for our community - and as a result our economy is tipped for more growth.
The report notes that “Tasmania has had a dream run through most of the pandemic. By keeping COVID largely at bay, and thus businesses open and consumers relatively confident, the state saw household demand grow strongly through 2021.”
Deloitte recognises the strength in the Tasmanian economy, forecasting economic growth in 2021-22 of 5.8 per cent, and whilst some moderation is expected in future years, our strong housing construction pipeline, near-record employment levels and major infrastructure projects should contribute to continued growth.
Deloitte also notes that Tasmania’s international exports have been performing strongly, and over the next 12 months international trade is “set to boost Tasmania’s economy, with exports of goods set to outpace imports.”
Our team has worked hard, together with the business and wider community to get these outcomes. We create products and services that the world wants, and our plan is designed so that our economy continues to reap the rewards. That’s why our newly released Tasmanian Trade and Investment Mission Plan 2024 will see delegations cover New Zealand, Singapore, Vietnam, Indonesia, Japan, South Korea, the United States of America, and the United Kingdom and Europe.
We entered the pandemic in a position of strength and it is pleasing that commentators such as Deloitte recognise the continued true resilience of our economy. Through our determined efforts to implement our plan, we have gone from being a national laggard to a national leader.
To continue these ambitions, the Tasmanian Liberal Government is supporting Tasmanians, our businesses and our community as we deliver on our plan to strengthen Tasmania’s future.
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