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: -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: -20.8%
Printing firms have faced tough conditions in recent years. Consumers have opted for online alternatives, which has increased competition and threatened traditional printing firms, causing revenue to plummet. The COVID-19 pandemic accelerated these trends, as city-wide lockdowns disrupted distribution outlets and volatile business confidence reduced spending on printed materials. Technological advancements have made printing machinery more accessible and affordable to downstream markets, cutting demand for printing services. Industry revenue has fallen by an annualised 4.2% over the five years through 2022-23, to $6.4 billion. Online alternatives continue to encroach on traditional printed materials, meaning there has been a decline of... Learn More
Decline in Imports for 2024: -18.2%
The Basic Inorganic Chemical Manufacturing industry's performance has been highly volatile in recent years. With the industry focused on international markets, volatility in export markets has weighed on the industry's performance. Marked fluctuations in global chemical commodity prices have added to the industry's volatility.
The industry is expected to expand by an annualised 8.4% over the five years through 2022-23, to total $3.4 billion. Estimated growth of 37.9% in 2022-23, in view of record-high prices, has somewhat distorted this rate. This apparent strong performance also hides the effects of ongoing structural changes in Australia's wider industrial economy and the impact of... 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: -16.2%
Revenue for the RTD Mixed Spirit Production industry is expected to decline at an annualised 1.2% over the five years through 2023-24, to $1.2 billion. Consumption of RTD beverages has risen over the past five years, with new product development driving growth at the expense of other alcohol products, such as cider. However, and rising domestic demand has been increasingly met by imported products, which has hindered industry revenue growth, increased competition and reducing industry margins.
Marketing campaigns and a range of new products have boosted industry revenue over the past five years. These new products entered the market either with... 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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