FARMERS ARE DRIVING AUSTRALIA’S GROWTH

Australia needs to give our farmers a hug because recent figures show that they have been instrumental in powering Australia’s economy.

Agriculture is now Australia’s fastest growing economic sector, and was the largest contributor to national GDP growth in 2016-2017.

Australian agriculture is up 23 per cent, proving the sector was the fastest to grow of all 19 industries.

The nation’s economic growth was 1.9 per cent and Australian agriculture contributed 0.5 per cent of that.

In more good news, in 2016-2017 agriculture contributed over $50 billion in exports compared to $41 billion from just five years ago.

This was especially driven by the grains and livestock industries which contributed approximately $10 billion each to Australia’s export performance.

Figures released from the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) also reveal the gross value of farm production reached a record $62.8 billion in 2016-2017.

ABARES also estimated farm exports alone reached a record $48 billion in the past year.

It’s shaping up to be a tough harvest for many of our farmers and we’re all praying for rain.

In the meantime we can be encouraged and thankful that despite the dry winter, many of our younger farmers are starting to see a future on the land.