Based on the expert analysis and our database of 750+ AU industries, IBISWorld presents a list of the Industries with the Biggest Decline in Imports in Australia in 2024
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View a list of the Top 25 industries with the biggest decline in importsDecline in Imports for 2024: -50.0%
Gold ore mining revenue has soared, as central bank purchases and investor demand for safe-haven assets have driven gold prices higher. A weaker Australian dollar also lifted returns for domestic producers, with gold priced in US dollars in global markets.
Gold mining is a well-established industry in Australia, and production volumes have grown over much of the past decade, contributing to an annualised 4.0% increase in gold ore mining revenue through the end of 2022-23, to $22.7 billion. Gold is considered a counter-cyclical commodity and safe-haven asset during national and global economic uncertainty, with rocky US-China trade negotiations, the COVID-19 pandemic... Learn More
Decline in Imports for 2024: -46.0%
Trends in building and infrastructure construction determine the Ready-Mixed Concrete Manufacturing industry's performance. The product's perishability restricts supply capabilities to a narrow geographic market. Several large-scale, vertically integrated manufacturers together account for over two-thirds of industry sales and have branch representation in most markets. These include Boral Limited, Hanson Australia, Holcim Australia, Adbri Limited and the Barro Group.
Divergent trends in downstream building and infrastructure markets have influenced the industry in recent years. Industry revenue has declined at an anticipated annualised 1.1% over the past five years. Revenue is expected to total $6.7 billion in 2022-23, including an estimated contraction of... Learn More
Decline in Imports for 2024: -36.5%
Nickel ore miners faced generally positive operating conditions over the past five years, with strong pricing growth and demand being partly offset by output declines. Most nickel ore mined in Australia is processed locally into nickel concentrate by downstream smelting and refining firms, or by nickel ore mining companies that also operate their own smelters and refineries. All nickel ore mined by the industry is from Western Australia. Infrastructure projects and the production of nickel-based stainless steel goods in China drove global demand for nickel over the past five years. These factors positively affected Australian nickel exports, with domestic demand... Learn More
Decline in Imports for 2024: -34.2%
The Cider Production industry has declined over the past five years. Falling cider consumption and an overall decline in per capita alcohol consumption have largely driven this trend. In Australia, per capita alcohol consumption has fallen over the period, including large declines in almost every product segment except spirits. However, industry associations such as Cider Australia are using marketing efforts to promote cider for its craft qualities. As a result, although the craft cider is a small segment, it has become more prominent in recent years. However, rising health consciousness has led to greater demand for low- and no-alcohol beer... Learn More
Decline in Imports for 2024: -33.3%
Variations in turn-off rates and wool production volumes have seen sheep farming revenue fluctuate but fall overall. Farmers have continued to focus on export markets to expand revenue in recent years. However, prolonged pandemic lockdowns in China have weakened demand for wool, leading to an oversupply and lower prices. Sheep farming revenue is expected to drop at an average annual rate of 4.1% over the five years through 2022-23, to total $3.1 billion. Revenue is anticipated to plunge by 9.8% in the current year, driven by a sharp drop in the prices of sheep, lambs and wool.
Australia's total sheep flock... Learn More
Decline in Imports for 2024: -24.9%
Pesticide manufacturers have faced a challenging operating environment over the past decade. As consumers have become increasingly concerned about pesticides in the food chain, industry regulations have increased, particularly as residual-detection methods have improved. Several active ingredients have been withdrawn because of human health concerns over the period, reducing the industry's product portfolio. Simultaneously, pesticide manufacturers have incurred escalating costs in bringing new active ingredients to market, which have added to profit margin pressures. The industry has also contended with volatile weather conditions, including bushfires, droughts and floods in large parts of eastern Australia. The COVID-19 pandemic and associated supply... Learn More
Decline in Imports for 2024: -22.8%
Oil and gas producers have experienced significant revenue volatility. Changes in oil and gas prices, exchange rate movements, annual production volumes, and domestic and export demand for oil and gas all influence performance. Output has expanded over the past decade, while world oil and natural gas prices have displayed significant volatility.
Australia's natural gas production, which makes up most of the industry has soared over the past decade as new gas fields have been developed to feed Australia's liquefied natural gas (LNG) facilities. Global trade in LNG has expanded with growing demand for LNG in Asian markets and weakness in the... Learn More
Decline in Imports for 2024: -18.1%
Milk powder manufacturers have faced challenging conditions in recent years. Domestic raw milk production has fallen over the past five years, reducing the amount available for milk powder manufacturers. Furthermore, falling production of butter in favour of cheese has limited the production of butter by-products, skim milk powder and buttermilk powder. While milk powder prices have risen, the pace of changes in prices relative to changes in production volumes has led to volatile revenue movements over the period. Overall, revenue is expected to increase at an average annual rate of 2.5% over the five years through 2023-24, to $833.5 million.... Learn More
Decline in Imports for 2024: -15.5%
Coal is a key input in steelmaking and energy generation. Although coal deposits are found all over the world, Australia is one of the world's lowest cost producers and a major coal exporter. Domestic reserves exceed domestic demand, are high grade and economical to access. As a result, exports account for a large share of coal mining revenue. Imports are negligible, as local production is higher than domestic demand for coal. Black coal mining accounts for most activity, with some brown coal used domestically for electricity generation in Victoria.
Coal mining revenue is expected to grow at an annualised 14.6% over... Learn More
Decline in Imports for 2024: -14.4%
The Fertiliser Manufacturing industry ensures that Australia's agricultural production systems are economically efficient in the short term and sustainable in the long term. Fertiliser manufacturers supply phosphorus, nitrogen, potassium and sulphur fertilisers, and mix of high-analysis blends and trace elements. Between six and seven million tonnes of fertiliser are sold each year. However, only half of this is manufactured locally with the remainder imported. This means that the industry is susceptible to global supply side shocks, with little control over fertiliser prices. Recently, the COVID-19 pandemic, the European natural gas crisis and the Russia-Ukraine conflict have played havoc with global... Learn More
Based on the expert analysis and our database of 750+ AU industries, IBISWorld presents a list of the Biggest Industries by Employment in Australia in 2024
VIEW ARTICLEBased on the expert analysis and our database of 750+ AU industries, IBISWorld presents a list of the Biggest Industries By Revenue in Australia in 2024
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