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Agriculture Largest Contributor to Australia’s GDP

The Minister for Agriculture and Water Resources announced last week that agriculture is now the ‘largest contributor to national GDP growth and fastest growing economic sector’. In 2016-17, the Australian economy grew 1.9 per cent to which agriculture contributed 0.5 per cent. Additionally, agriculture exports were $50 billion in 2016-17. This growth was attributed to the Agricultural Competitive White Paper and free trade agreements that have facilitated Australia’s access to overseas markets.

 

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