Sydney, New South Wales, Australia
June 4, 2009
The
New South Wales Farmers’
Association has welcomed findings from the Australian Bureau
of Statistics (ABS) that agriculture remains the most resilient
and robust sector in the Australian economy.
NSW Farmers’ Association Business, Economics and Trade Committee
Chair Susan McLeish says the release of yesterday’s National
Account Figures by the ABS highlights the pivotal role
Australia’s agricultural sector plays in ensuring the economy
maintains some positive momentum towards recovery.
“These figures show that Australia has so far managed to dodge
the global recession, thanks in part to agriculture as the
strongest performing sector in our economy,” Ms McLeish said.
“According to the ABS, agriculture has been the strongest
contributor to growth in Gross Domestic Product (GDP) over the
past year, contributing 0.5 per cent to the national economy in
this time.
“Such figures show the resilience and determination of the
agricultural sector which remains an integral part of the
Australian economy despite many challenges facing the sector
including prolonged drought, a steadily appreciating Australian
dollar and new trade-distorting protectionist measures in some
of our key overseas markets.
“Proof of the agricultural sector’s strength is evident in
figures that show GDP growth was 0.4 per cent over the year,
while non-farm GDP remained stagnant.
“In the most recent quarter, December 2008 to March 2009, the
agricultural, fisheries and forestry industries contributed a
massive 18.3 per cent increase to exports (or some 0.1 per cent
to GDP); making it the third consecutive quarter in which
agriculture has either been the largest or equal largest sector
to contribute to GDP.
“And with Federal Treasury reports suggesting Australia’s
economic recovery will remain in the red until at least 2010-11,
it is essential that support for the agricultural sector that
continues to underpin the Australian economy is maintained –
support such as infrastructure and research and development.
“After all, agriculture has proven to be the most effective at
producing positive results for the economy when economic
pressure mounts,” Ms McLeish concluded. |
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