Treasurer Tim Nicholls.
Treasurer Tim Nicholls.

Queensland economy lifting with investment, exports up

THE Queensland economy grew by 4% last year, outstripping expectations and other states, Treasurer Tim Nichols said on Friday.

"The four per cent growth is well ahead of the 2.6 per cent average across the other states," Mr Nicholls said.

"The June quarter result was especially pleasing with the Queensland economy expanding by 1.3 per cent compared to the rest of Australia which grew by on 0.3 per cent.

"Queensland is outperforming the rest of Australia on a number of measures.

"Household consumption in the June quarter was up 0.8 per cent in Queensland but only 0.5 per cent in the rest of the country.

"Similarly exports showed strong growth in the quarter of 1.7 per cent which is almost double the rate of growth in the rest of Australia."

Mr Nicholls said the outstanding results reinforced that the government had made the right decisions in supporting private enterprise to grow the economy.

"The preliminary results for the 2012-13 financial year paint a positive picture," he said.

"Private investment was up 5.2 per cent for the year and business investment rose 9.4 per cent.

"Our exporters are also performing strongly with growth in exports of goods and services of 9.4 per cent.

"What we're seeing is business regaining confidence and committing to investing, employing and growing in Queensland.

"Just this week we've seen jobs data showing 17,000 full-time jobs were created in Queensland in September.

"Those figures came just a day after the Westpac Melbourne Institute Consumer Sentiment Index showed confidence growing strongly in Queensland.

More information on the State Accounts is available at

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