Australia has been a major exporter of agricultural products, being one of the biggest exporters of meat and dairy products and is the fourth largest exporter of wine in the world. In spite of this, export numbers for the country account for a measly 2% of the country’s economy. That is about to change, as Asian growing taste for meat and dairy could trigger an increase in Australian agricultural exports.
The increase in demand for these products offshore should encourage local farmers to boost their output, as the recent statistic for the consumption of these products are above the per – capita GDP of $32,800. The growing demand for agriculture is expected to stabilize the economy as demand for minerals weaken.
Read more about this on the Sydney Morning Herald website.