Food System Outcomes Economy (Web – Feb 2024)

The economy figure lists food system outcomes for the Australian economy. Australia’s agricultural and food manufacturing sectors contribute significantly to economic growth. Despite this, the food system’s economic contributions face some significant challenges.
• $64.4 billion was the gross value added by agriculture forestry and fisheries in 2023.
• 72% of agriculture production was exported in 2023.
• 3.8% was agriculture, food and beverages’ share of GDP in 2023.
• 29.3 billion was the gross value added by food and beverages sectors in 2023.
• 7.5% was the annual food inflation rate in 2022-23.