Economy
The state of Victoria is the second largest economy in Australia after New South Wales, accounting for a quarter of the nation's gross domestic product. The total gross state product (GSP) at current prices for Victoria was A$374 billion in June 2016, with a GSP per capita of A$60,595. The economy grew by 1.0 per cent in the 2015–16 financial year, less than the Australian average of 2.7 per cent.
Finance and insurance is Victoria's largest income producing sector, while the health care and social assistance sector is the state's biggest employer. The shift towards service industries in the preceding decades has seen manufacturing lose its mantle as Victoria's largest employer and income producer.