Australia exported a total of $74 billion in Food and Fibre exports in 2023-24, with Victoria contributing the most of any state at $20.1 billion, which is 27% of the total. Queensland was the next at 19% by value. Opportunities, albeit constrained by drought, will still be dominated by demand in China and South-east Asia are still a growing market. There is still uncertainty in the US with tariff the major cause of this the need to diversify markets while continuing to engage with China and the slow growth in established markets will be challenging in the near future.

3 Key Learnings

1. There is strong demand for Australian food products, despite slowing economic growth globally, most notably in developed economies.
2. China is continuing to seek food products from Australian with good prospects for our major categories such as horticulture, meat, dairy.  
3. State and Commonwealth Governments are working together to support exporting companies navigate market access in key markets such as China, USA and South-east Asia.