The second most populated state in Australia, Victoria hosts a population of 5,547,527 and spans 237,629 square km in the south-east segment of the continent with a coastline shared with the Bass Straight. Growth estimates from the Department of Planning and Community Development estimate that Victoria's population will grow to approximately 6,400,000 by 2106 and roughly 7,300,000 by 2031, making this Australian state one of the most promising for residential and commercial growth.
Victoria enjoys an economy strong enough for a per capita input to the Gross State Product of AUD $44,443. Its economic centrepieces commercial enterprises. Melbourne, the capital city, is the financial centre of the state and country, though followed closely by Sydney in New South Wales, and its focus follows that closely. The commercial base comprises finance, insurance, and property services, while community, social, and personal services compose the second largest employment fields.
A struggling manufacturing base is still the area's largest employer group and income producer. Because of harsh economic cutbacks in this and related field, Victoria has the largest unemployment rate of all the states and territories. Agriculture—livestock and grains, primarily—absorb some of the economic burden, however, and agricultural produce increased to approximately AUD $8.7 billion.