Economics and trade

Economic information
The importance of the Port of Melbourne to Victoria can be appreciated when you realise that the State relies on sea transport for more than 98 per cent of its trade.

The port also creates employment for 18,000 people directly and a further 62,000 indirectly.

It handles around $70 billion in trade annually and contributes more than $5.4 billion every year to the Victorian economy, including the following contributions to the municipalities surrounding the port:

• $750 million to the economy of the City of Melbourne
• $199 million to the economy of the City of Port Phillip
• $43 million to the economy of the City of Hobsons Bay
• $21 million to the economy of the City of Maribyrnong
• $603 million to other local government areas' gross regional product

Country Victoria’s gross regional product benefits by $81 million because of the port.

For the people who live in Melbourne and regional Victoria a large, efficient port means easy and more affordable access to everything they could ever need, or want, to buy.

The success of the port means more efficient and more competitive exports. That is good news for the thousands of people who work in industries like agriculture and manufacturing that export their products all around the world.

Trade information
The financial year 2003/04 marked the thirteenth consecutive year of trade growth for the Port of Melbourne, with total trade up 8.8 per cent on the previous year, to 59.5 million revenue tonnes.

The Port of Melbourne is Australia’s largest container port, handling almost 40 per cent of the nation’s containerised trade. The port set an Australian record, handling 1.9 million *TEU for the twelve months ending 30 April 2005 .

The main containerised commodity exports are: miscellaneous manufactures, dairy products, cereal grains, beverages, paper and newsprint, fruit and vegetables, stock feed, meat, miscellaneous food preparations, pulp and wastepaper.

The main containerised commodity imports are: miscellaneous manufactures, paper and newsprint, electrical equipment, fruit and vegetables, furniture, vehicle parts, machinery, clothing, metal manufactures, and toys and sporting goods.

Non-containerised trade increased by 9.6 per cent on the previous year.

Per day, on average, the port handles 700 motor vehicles, 550 tonnes of tea and coffee, 750 tonnes of wood and timber, 1300 tonnes of chemicals, 2200 tonnes of fruit, vegetables and nuts, 2400 tonnes of dairy products, 5100 tonnes of cereals and 10,800 tonnes of petroleum, alongside many other raw materials and manufactured goods.

*TEU or 20-foot equivalent unit is the standard international unit for containers.