The report, based on an extensive set of historical and updated data, provides a detailed economic snapshot of Australia’s resilient $111.2 billion food and grocery manufacturing sector and highlights its ongoing contribution to the Australian economy.
- Highlighting its resilience to a shifting economy, there was a significant 26 percent increase in capital investment in food manufacturing and about $535.8 million spent on research and development. This is also reflected in the $31.4 billion combined industry value-add to Australia’s gross domestic product.
- Exports remain a strong element of the industry with businesses in 2012-13 accounting for $50.8 billion of international trade.
- The sector remains a stable employer with only a marginal fall in hires by 0.4 percent.
- When compared with 42 international food and beverage companies, Australia is on par with gross margin performance however EBIT is 300B basis points lower than the international comparator group.
- Australia is one of the most expensive countries for manufacturing, ranking second to Japan for cost of doing business in the manufacturing sector in 2012.