Victoria – China trade briefing note: Benefits to Western Households

Commissioned by the Australia China Business Council, this briefing note establishes a firm evidence base on the economic impact of trade with China on Victorian households.

This briefing note provides and overview of the relationship between China and VIC. It highlights the impact of VIC-China trade on the welfare of households in the state through household income, labour market and cost of living effects.

This note should be read in conjunction with the national report which provides a detailed methodological approach and highlights the benefits to the average Austraian households.

This note found:

• Australia’s trade intensity with China increased VIC household disposable income by an average of $1,500 in 2022-23
• Two-way trade with China in 2022-23 contributed to approximately 110,000 jobs, or 3.0 per cent of total employment in VIC
• VIC households would pay 5.0 per cent more for the same consumption items without China as a major import partner.