Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Australia Agriculture Earnings Seen Declining on World Economy

Agriculture export earnings by Australia, the largest wool and beef shipper, may decline next financial year on concern that global economic growth will slow, according to the government’s commodity forecaster.

Earnings from farm, forestry and fisheries products may total A$38.9 billion ($41.5 billion) in the year from July 1, the Canberra-based Australian Bureau of Agricultural and Resource Economics and Sciences said today. That compares with A$39.2 billion a year earlier, it said.

“One of the main risks is the international economy,” Paul Morris, executive director, said yesterday. “We are still very dependent on what happens globally and if the Europeans don’t get things in order over there, then there’s a flow-on effect to their purchases from some of our major buyers.”

China pared the nation’s economic growth target to 7.5 percent from an 8 percent goal in place since 2005 yesterday, a signal that leaders are determined to reduce reliance on exports and capital spending in favor of consumption. Private creditors have reached an agreement with Greek and European officials on the biggest sovereign debt restructuring in history, seeking to reduce Greece’s borrowings by about 106 billion euros and lower debt to 120.5 percent of gross domestic product by 2020.

Farm-export earnings, including crops and livestock, may total A$35.1 billion in 2012-2013, while forest and fisheries exports may total A$3.8 billion, the bureau said.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.