Agribusiness and food
Huge demand for NSW's agriculture and food products
Australia offers investors and exporters a strong comparative advantage in the production of agricultural products, as a result of its size, geography, technology and skilled workforce.
Leading agriculture and food companies choose NSW because it offers favourable growing conditions, a well-regulated production environment, and easy access to Australia's eastern seaboard and attractive export markets.
There is huge domestic and international demand for NSW's agriculture and food products. Locally, food retailing is the biggest driver of growth in NSW's retail industry. In 2015-16, annual food retail turnover (including supermarkets, grocery stores, liquor stores, cafes, restaurants, and takeaway food services) was valued at more than $51 billion.
Exceptional export opportunities
The value of NSW's food and agriculture exports have increased by an average of six per cent (nominal terms) each year over the five years to 2015-16. The state's key export markets for these commodities include China, the United States, Japan, New Zealand and South Korea.
NSW exports of goods and services were valued at A$64.7 billion (recorded trade basis) in 2015-16, with food and agricultural products totalling A$7 billion of this. The key drivers of export growth in the state over the last five years were services (mainly travel, financial, professional and management, and computer services), beef, infant formula, gold, coal, medical devices, vegetables and fruit.
Opportunities abound for local exporters. In 2015-16:
- NSW accounts for around one quarter of Australia's wine exports by volume, valued at A$506 million
- NSW meat exports totalled more than A$2.2 billion
- Cereal/cereal product exports totalled A$76 million
- Cotton exports totalled $589 million
- Wool exports totalled $584 million
Source: Australian Bureau of Statistics