Australia’s food exports reached A$30.5 billion (about US$32.2 million) in the last financial year, which is the highest value in a decade, according to the Australian Food Statistics Report 2011-12.
The value is an increase of more than 12 percent year-over-year, said Joe Ludwig, Australia’s Minister for Agriculture, Fisheries and Forestry. He attributed the gain to the nation’s expanded production capacity.
Australia’s Minister for Trade and Competiveness reported the that country’s seasonally adjusted trade deficit narrowed to A$178 million (US$187.6 million) in February, as the value of exports increased across most categories compared with January. Exports of goods and services were worth A$25.6 billion (US$27.0 billion), rising 3.3 percent from January, while imports dropped by just under 1 percent to A$25.8 billion (US$27.2 billion).