The import of fertilizers to Australia exhibited a fluctuating trend from 2013 to 2023, with the value standing at $1.7269 Billion in 2023. Key observations include a notable decline from 2013 to 2016, followed by a period of recovery and gradual growth from 2017 onward. The year-on-year variation shows minor growth, with the last two years recording 1.88% in 2022 and 1.81% in 2023. Over the last five years, the compound annual growth rate (CAGR) has averaged 1.12%, indicating a stable but modest upward trajectory.
Future trends to watch for include:
- Continued growth in fertilizer imports with a forecasted five-year CAGR of 1.27%.
- The potential impact of changes in agricultural policies and global trade dynamics.
- Innovations in sustainable farming and shifts towards organic fertilizers that could affect demand patterns.
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