Two high-profile trade events being held this month highlight Queensland’s export diversity, with both the international beef industry and some of Silicon Valley’s best-known entrepreneurs visiting the state.
Beef Australia celebrates all facets of the Australian beef industry, bringing together members of the local industry and international buyers to facilitate new trade and export opportunities.
TIQ senior economist Simon Fischer said beef cattle were a traditional export strength for Queensland.
‘Beef is one of Queensland’s major exports overall, and also one of our most valuable agricultural exports,’ he said.
‘In the past 12 months, the value of all beef exports from Queensland (including fresh, chilled and frozen beef) was $4.3 billion, up $137 million on the same period last year.
‘Queensland is Australia’s largest beef exporter by quite a significant margin … Queensland beef exports represented 57% of all Australian beef exports by value.’
Mr Fischer said the state was also continuing to develop its exports of high-tech products, including through events such as Myriad 2018.
Myriad will bring together start-ups, investors and innovators from around the world, with more than 360 US entrepreneurs flying from Silicon Valley to Brisbane on a specially chartered Myriad Air flight.
Mr Fischer said the tech sector was a key element of the modern global economy.
‘Tech goods and services are part of a larger group known as “knowledge-intensive” industries,’ he said.
‘Goods and services in this sector have been among the most dynamic components of international trade over the last decade.
‘Queensland is embracing this change and performing well.
‘Queensland exports of knowledge-intensive goods rose $437 million, or 17.7%, in the year ending February 2018.’
Mr Fischer said diversity was a positive for the Queensland economy, with no one sector making up more than 12% of total economic output.
‘I think a diverse economy is a healthy economy — which is why it’s great to see Queensland exports performing well in traditional strengths, like beef cattle, and also in the emerging tech sector.’
The Queensland Trade and Investment Strategy 2017–2022 matches Queensland’s economic strengths with global trends, highlighting both traditional and emerging export markets.
Read the full interview with Simon Fischer in Simon Says: The evolution of Queensland’s export economy on TIQ’s Medium page.