The arable land area in Australia has experienced fluctuations over the past decade, with values expressed in million hectares. From a peak in 2014, there was a decline until 2016, followed by periods of recovery. Notably, 2023 saw the arable land area stand at approximately 31.944 million hectares. Year-on-year variations over the last two years were 1.08% in both 2022 and 2023. The compound annual growth rate (CAGR) over the last five years averages at 0.62%, indicating a modest upward trend. The forecast suggests a continued increase, with a projected CAGR of 0.8% leading to a 4.09% growth by 2028.
Future trends to watch for:
- Impact of climate change on arable land sustainability.
- Technological advancements in agriculture improving land productivity.
- Policy changes affecting land use and agricultural practices.
- Economic conditions influencing agricultural investments.
