Industries with the Biggest Decline in Exports in Australia in 2023

1. Bottled Water Manufacturing in Australia

Decline in Exports for 2023: -70.2%

Operators in the Bottled Water Manufacturing industry have faced several challenges over the past five years. Industry revenue is expected to fall at an annualised 2.0% over the five years through 2022-23, to $742.4 million. This includes an anticipated decline of 0.7% in the current year, due to weakening consumer sentiment creating a drag on spending. Reduced demand for convenient bottled water as workers opt to work from home and weaker economic conditions impairing discretionary spending have constrained industry revenue growth. Meanwhile, rising cost pressures have put downwards pressure on industry profit margins.

Over the past five years, industry operators have... Learn More

2. Nickel Ore Mining in Australia

Decline in Exports for 2023: -68.5%

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

3. Industrial Gas Manufacturing in Australia

Decline in Exports for 2023: -43.1%

The development of new products and technologies, growing environmental concerns and changing demand patterns among key markets have shaped industry performance. Activity in key markets, including Australia's resources, manufacturing and healthcare sectors, has also been instrumental in the industry's growth. These markets have been subject to cyclical variations.

That's why the Industrial Gas Manufacturing industry revenue is expected to contract at an annualised 6.6% over the five years through 2023-24, to $2.8 billion, disguising the industry's highly volatile performance. This includes a drop of 2.6% in 2023-24, constrained by weak demand from Australia's mining sector. Industry manufacturers suffered from soaring... Learn More

4. Knitted Product Manufacturing in Australia

Decline in Exports for 2023: -28.4%

Unfavourable domestic and international conditions have seen Australian knitted goods manufacturers continue to decline in recent years. Low domestic production and eased importing costs have seen imports rise as a percentage of domestic demand and revenue fall. High imports and minimal government support have hurt domestic manufacturers. Volatile consumer sentiment has caused many consumers to spend more cautiously, which has exacerbated the uptake of cheap imports. Nonetheless, some segments of the industry, including knitwear and knitted apparel, benefited from increased demand from clothing retailers and a rise in real disposable income.

Local production volumes have fallen due to a range of... Learn More

5. Cider Production in Australia

Decline in Exports for 2023: -27.2%

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

6. Fibreglass Product Manufacturing in Australia

Decline in Exports for 2023: -25.4%

Industry operators in the Fibreglass Product Manufacturing industry have faced difficult operating conditions over the past five years. The industry manufactures many products and services for several downstream markets. Industry firms primarily rely on demand from swimming pool installers, truck manufacturers and train manufacturers. Demand from several of these downstream markets has declined over the period, placing downward pressure on industry revenue. Furthermore, weak growth in discretionary income later in the period has constrained demand for luxury industry items, such as swimming pool shells. However, increased activity in downstream sectors such as bridge construction and boatbuilding has supported industry players... Learn More

7. Sheep Farming in Australia

Decline in Exports for 2023: -23.9%

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

8. Nursery Production in Australia

Decline in Exports for 2023: -21.4%

Rising price-based competition from hardware stores has eroded the market power of the nursery production industry. Moreover, scattered variations in annual rainfall year to year have affected the production volume and quality of outdoor nursery products. Subdued activity from new dwelling commencements that typically require landscaping has weighed on industry demand. Homebuyers have gradually shifted towards higher-density living, slowing demand for outdoor plants. The rising popularity of indoor and patio plants has upheld nursery production. Also, the demand for bedding and vegetable plants escalated following the outbreak of COVID-19, as many individuals used stay-at-home orders to undertake DIY projects. The... Learn More

9. Butter and Dairy Product Manufacturing in Australia

Decline in Exports for 2023: -20.9%

Butter and other dairy product manufacturers have faced challenging conditions over the past five years. Global dairy prices have been volatile over the period, declining overall. Production of butter and other products like buttermilk and flavoured milk have fallen substantially because of major shifts in overseas demand and local consumer preferences. Milk supply constraints have caused butter production to plummet since 2017-18. The COVID-19 pandemic also created volatility in demand and prices. That's why revenue is declining at an average annual rate of 2.9% over the five years through 2022-23, to $8.12 billion. This trend includes a drop of 5.2%... Learn More

10. Wicker and Fibreglass Furniture Manufacturing in Australia

Decline in Exports for 2023: -19.0%

Wicker and fibreglass furniture manufacturers have faced challenging conditions over the past few years. Revenue is expected to decline at an annualised 4.4% over the five years through 2022-23, to $308.7 million. Over that period, manufacturers have contended with substantial price competition from less costly imports. Strong competition from wooden, plastic and steel furniture has also slowed revenue growth. Rising interest rates and muted building construction during the COVID-19 pandemic have further weakened demand for industry products, as consumers usually purchase furniture for newly built homes. As a result, industry revenue is anticipated to decline by 3.4% in the current... Learn More