Rural
26 September, 2024
Queensland bucks national export trend
Queensland has set a record for agriculture, fisheries and forestry exports highlighting the state’s robust economic performance and resilience in the sector.
7.2% increase in total export values in 2023-24 to $13.39 billion
USA reaches second position among export destinations including Japan and Korea driven by strong demand for Queensland beef
35% increase in export value and 12.95% rise in volume to the United States
Queensland has set a record for agriculture, fisheries and forestry exports highlighting the state’s robust economic performance and resilience in the sector.
The latest preliminary Australian Bureau of Statistics trade estimates for 2023/2024 indicate significant commodity level export increases.
While these estimates do not include our large sugar and cotton sectors, the figures are very encouraging.
The latest data for the 2023/24 financial year reveals a remarkable 7.2% increase in export values, reaching over $13.39 billion.
This is a significant achievement, particularly in light of a national decline of 9.9% in the same period.
Record Exports: Queensland exported more than $13.39 billion worth of agriculture, fisheries, and forestry products in 2023-24, the highest on record.
This represents a 7.2% increase from 2022-23 and a 22.4% increase from the five-year average up to 2023-24.
Cotton and sugar exports are currently excluded due to confidentiality.
Top Export Destinations: The top five destinations for Queensland’s exports were China ($2.486 billion), the United States of America ($2.158 billion), Japan ($1.677 billion), South Korea ($1.672 billion), and Vietnam ($1.055 billion).
Notable Changes: Vietnam entered the top five for the first time since 2020-21, with export values soaring by 120% in the past year.
The United States saw a 35% increase in export value and a 12.95% rise in volume, driven by strong demand for Queensland beef.
