This year’s Australian Trade Annual Review has been released and reports the value of Australian agri-food exports have grown for the eighth consecutive year, exceeding $50 billion for the first time. The report shows that the sector has remained resilient in the face of increasingly challenging seasonal conditions. Most agricultural sector exports lifted in value with stand out sectors being beef, sheep meat, wool and wine. The dairy sector saw export growth for the first time in four years.
Approximately two-thirds of agricultural produce is exported with beef and cattle, together with cropping topping export value. Most sectors continued to capitalise on strong Asian demand with China accounting for 23.7 per cent of Australia’s total export value, growing by 16 per cent.
Indonesia is the country’s leading wheat export destination. The review reports that export value to Indonesia decreased due to a decline in live cattle exports however the recently negotiated Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA) free trade agreement could see an improvement in export value to Australia’s fifth largest agri-food export market.