NSW Department of Primary Industries and Regional Development

Key Export Markets

NSW primary industries exports rebounded from last year with an increase of 15.5% year-on-year to $12.83 billion. 155 This impressive result marks 2024-25 as the second highest export value on record, just 2% shy of the previous record year in 2022-23 and 46% above the 10-year average. Driving the result was increased production and supply of wheat and chickpeas combined with record production and strong demand for beef and sheep meat exports. These increases more than offset some modest declines in fibre exports of wool and cotton which fell on softer demand and lower production, particularly in the case of wool. 155

Exports by Commodity

Exports across nearly all sectors increased year-on-year with exports reaching the second highest level on record. Livestock and fisheries exports reached a new record level, while broadacre crops recorded significant levels of growth on last year also. Forestry exports were the only sector to decline marginally.

Horticulture recorded the strongest level of sector growth, increasing 26% year-on-year to $429 million driven by a fresh surge in exports of nuts, citrus and table grapes. 155 Good seasonal conditions and higher production coincided with strong demand, lifting export volumes and prices for many key horticultural products.

Broadacre crops recorded the next highest level of export growth at 19% year-on-year and was the highest value export sector valued at $6.9 billion, underpinned by larger exportable surpluses for winter crops. 155

Exports by Sector x y

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Source: SP Global (2025)
Improved market access for certain commodities also lifted exports higher, most notably for barley exports to China and chickpea exports to India. Canola exports to Europe benefitted from strong underlying demand for use in biodiesel. Cotton exports x suffered the largest overall decline in export value with increased global supply and competition leading to reduced demand.

Livestock products exports increased by a more modest 11% year-on-year to record a second consecutive annual record high of $5.4 billion. This was due to strong demand and higher prices for beef and sheepmeat, as well as increased exports of low transformation dairy products such as milk and cream. 155 In contrast, wool exports fell 25% year-on-year with softer demand in all key markets, which was reflected in both export price and quantities shipped. 155

Key Export Commodity Value Changes x y

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Source: SP Global (2025)

Export by Region

Regional Export Market Values x y

  • Asia
  • The Americas
  • Europe
  • Middle East
  • Oceania
  • Africa
  • Other
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Source: SP Global (2025)
Asia is by far the most important export region for NSW primary industries, accounting for 69% of all primary industries exports in 2024-25. Exports to Asia increased by 13% year-on-year to the second highest level on record at $8.8 billion, aided by increased exports of wheat, chickpeas, barley and horticultural products. 155 China remains NSW largest export market for primary industries valued at $3.6 billion, and takes a significant share of red meat, cropping and horticultural exports. Barley exports to China surged in 2024-25, as China's decision to remove the previously imposed tariff’s took effect 11 , and as a result barley trade began to shift back towards China.

Similarly, India’s decision to temporarily remove tariffs applied to chickpea imports 95 encouraged the largest NSW planting and production of chickpeas on record, aiding a 346% increase year-on year increase in exports to India and lifting India to NSW fourth largest market as a result. 155 Exports to Vietnam declined 25% year-on-year with key exports of cotton x experiencing softer demand and some product diversion to other markets such as China and India. 155

Key Export Market Value Changes x y

Download data (.XLSX)
Source: SP Global (2025)
Exports to the Americas is dominated by trade with NSW second largest export market being the United States (US). In April 2025 the US announced tariffs on imports from all trade partners globally, with most goods originating in Australia subject to a 10 per cent baseline tariff. This was amongst the lowest rates of tariffs applied to US trading partners. Despite the increases to trade restrictions, exports to the US increased by 34% year-on-year to reach a new record of $1.33 billion, with trade volumes actually increasing each month after the tariffs were imposed. This was primarily due to US domestic supply shortages requiring increased exports of red meat to meet market demand. Exports to Canada lifted by an impressive 53% year-on-year to also reach a record level of $138 million, underpinned by the same factors as the US export market. 155

Europe was the third largest export destination in 2024-25 valued at $1.04 billion. Export growth to Belgium and Germany was a highlight with increases of 89% and 59% year-on-year respectively. 155 Canola exports valued at $627 million were the key driver of export demand to Europe, with increased NSW production and larger exportable surplus finding their way into the EU market to supplement the large EU biodiesel market. Sheepmeat exports more than doubled in value to $82 million, while macadamia and walnut exports were another highlight, increasing by 234% year-on-year to reach $21 million. 155

www.dpi.nsw.gov.au