According to a recent survey, Toowoomba has Queensland’s largest agricultural economy. The latest AgTrend data revealed a Gross Value Production (GVP) of almost $1.36 billion this financial year. The Western Downs was the only other billion-dollar valuation, with the second highest GVP at $1.11 billion. The Toowoomba local government area was also in the top ten for growth, with a GVP increase of almost 5.8% on 2021-22.
The overall valuation of Queensland’s agriculture and fisheries sector was a record breaking $23.44 billion with that figure forecast to increase to $23.67 billion in the 2023-24 financial year.
State agriculture minister Mark Furner said it was no surprise Queensland’s world-class produce was breaking records. “Despite challenges presented by COVID and floods, our agribusinesses continue to go from strength to strength,” Furner said. “We’re continuing to create jobs and back primary producers with sound investments through our Rural Economic Development (RED) Grants, which have supported about 2,500 jobs and provided about $12 million to our primary producers.”
The fastest growing region was the Lockyer Valley, with the value of its ag sector skyrocketing almost 42% to $483 million on the back of a strong recovery from the 2022 floods.
Source: countrycaller.com.au