The Australian Food and Grocery Council has announced the top state for food and grocery export, accounting for $10.6 billion (30.8 per cent) of the nation’s total export output.
The findings, contained in the Australian Food and Grocery Council’s (AFGC) new State of the Industry Report 2017-18, found that Victoria has established itself as Australia’s number one export state.
The report also found that Victoria’s food and grocery manufacturing export sector was also the nation’s fastest growing, recording 16.6 per cent year-on-year growth.
AFGC Deputy CEO Dr Geoffrey Annison said Free Trade Agreement developments and government deregulation were driving factors that helped Australian food and grocery manufacturers increase their export markets.
“Victoria’s food and grocery manufacturing sector continues to experience growth, especially in the export market, with the local industry harnessing export opportunities,” Dr Annison said.
“Across the board exports have increased and we have seen a 7.9 per cent increase to $34.4 billion output nationally, which is great for the Australian industry.”
China was Australia’s top export market, with a 45.3 per cent jump in exports recorded as local businesses continue to leverage opportunities presented by the China-Australia Free Trade Agreement.
Dr Annison said we need to see more investment by all levels of government to ensure the sector remains competitive on the global stage and continue to grow.
In a 2019 review, The Victorian Chamber of Commerce said Victoria’s exports are strong and growing but less than three per cent of Victorian businesses export.
“Too many Victorian SMEs still view exporting as risky or lack the funding, expertise or connections needed to become internationally engaged,” The Victorian Chamber of Commerce stated.
“In 2020 we will continue to call on governments to work with industry to leverage Victoria’s strengths and capabilities, help businesses capitalise on Free Trade Agreements and grow new business opportunities in fast growing overseas markets.”