Bendigo Bank’s Australian Agricultural Exports Report FY24/25 finds that the value of Australian agricultural exports has surged $5 billion to $77.2 billion in the past financial year, off the back of red meat exports which reached an all-time high.
The figures represent the second highest export year on record with agriculture now accounting for just over 15% of the nation’s total exported goods.
Despite the strong result overall, cotton, sugar and wool exports all recorded falls with a more subdued outlook for the broader agriculture sector throughout the current financial year.
Victoria remained Australia’s largest exporting state, recording an 11.1 per cent rise to a record $21.1 billion of agricultural exports as substantial cattle (+$1.3 billion), dairy (+$242 million) and horticultural (+$471 million) exports more than offset a $369 million decline in the value of cropping exports.
Image: https://pixabay.com/photos/sheep-animals-livestock-species-3727049/
