An overview of the state of Australian agriculture, consolidating key statistics on the sector and its role in the broader economy. The snapshot contains figures and data regarding land use, water consumption, export and employment. It also considers various factors influencing the value of agricultural output, such as technological advancement, management practices and commodity prices. 

The paper suggests that continuously fine-tuning policy measures to promote competitiveness and strong investment in research and development will support productivity growth.

Key findings

• Australian agriculture accounted for 55% of Australian land use, 74% of water consumption and 11% of goods and services exports in 2023-24.
• Globally, the sector accounts for around 50% of global land use, 73% of global deforestation, 70% of global water use and 34% of global greenhouse gas emissions.
• The gross value of agricultural production has increased by 34% in the past 20 years in real terms.
• Around 70% of agricultural production is exported.
• Changes in seasonal conditions over the period 2001 to 2020 reduced annual average broadacre farm profits by 23%.
• Australian agricultural emissions are expected to slowly decline over the next 15 years, however, as the rest of the Australian economy decarbonises, agriculture’s share of emissions is expected to increase from 19% in 2023 to over 30% in 2040.