h Food & Beverage Exports Soar

Food & Beverage Exports Soar

Food & Beverage Exports Soar

Article #74

According to the ABS Australia's exports of primary food and beverages for household use have soared every year over the last three years, making it the largest growing broader export category in that period.

In the December numbers for the international merchandise exports, the ABS revealed that the two fastest-growing categories, based on dollar value, are primary and processed food and beverages for household consumption.

In 2013, primary food and beverages for household consumption totalled $2.63bn, rising 8.8% in 2014 (to $2.86bn), then skyrocketing 58.7% (to $4.54bn), rising finally another 5.2% (to $4.78bn) in 2016. The categories average increased was 24.4%.

Exports of processed food and beverages grew considerably but not as much as primary, rising an average of 10.2% each year of the three years. In 2013, the category totalled $14.46bn, then rose 22.0% in 2014 (to $17.64bn), rising 15.3% in 2015 (to $20.35bn), before finally declining 6.6% in 2016 (to $19.00bn).

Exports of non-industrial transport equipment (pedestrian motor cars etc) were the second fastest growing category rising an average of 19.4% per annum each year between 2013-16.

Out of the 255.2bn of Total merchandise exports in 2016, primary industrial supplies - as usual - was the most valuable category, consisting of 30.48% of the exports.

However this category, while up from 2015 (4.1%), declined an average of 5.8% per annum of the three year period. Similarly the second-most valuable merchandise export category - primary fuels and lubricants - was also down 2.9% per annum of the period.

Source: ABS