Tasmania records economic growth

Peter Gutwein,Premier & Treasurer

Tasmania has recorded the second highest economic growth of any state, and was one of just two states to see growth in the 2019-20 financial year, despite the COVID-19 pandemic.

According to ABS statistics released today, Tasmania’s economy grew 0.3 per cent in 2019-20, and outperformed the national economy which fell 0.3 per cent.

Demonstrating the resilience in our economy, Tasmania’s Gross State Product grew to $32.1 billion in 2019-20.

While we know the road ahead will not be easy, this is a firm foundation for our cautiously optimistic recovery as we work towards rebuilding a stronger Tasmania.

The 2020-21 Budget is all about jobs, confidence and community as we rebuild a stronger Tasmania. It includes a landmark $5 billion infrastructure program – the largest ever announced by a Tasmanian Government – to support 25,000 jobs, bolster confidence and build the intergenerational infrastructure we need.

/Public Release. The material in this public release comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here.