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The Australian federal government is supportive of biotechnology and has committed considerable long-term funding to research and development. The Australian Productivity Commission recently completed an inquiry into the regulatory burden on farm businesses focusing on regulations that have a material impact on the competitiveness and productivity of Australian agriculture, including the impact of regulations for genetically engineered (GE) products.

Australia is a prosperous and industrialized nation with a stable economy. Underpinning Australia's strong economy is its open and transparent trade and investment environment, and trade and economic links with emerging economies, particularly in Asia. The U.S. - Australia Free Trade Agreement provides some advantages for U.S. products, which are well regarded as high quality and good value. The United States accounted for US$1.6 billion or nine percent of Australia’s total food and agriculture related imports in 2021.

Milk production in 2023 in Australia is forecast to decline by another two percent to 8.4 million metric tons (MMT), after an estimated six percent fall in 2022 to 8.55 MMT. This decline is expected despite a big increase in farm gate milk prices for 2022/23 to far exceed the previous record, and overall good seasonal production conditions for dairy farmers leading into the forecast year.

Australia is the world's 13th largest economy, with nominal GDP of US$1.5 trillion and one of the highest levels of per capita GDP in the world.

Legislation to strengthen Australia’s biosecurity system, simplify and streamline regulation and increase flexibility in how biosecurity risk is managed received royal assent on June 16, 2015...

Australia is the world’s second largest almond producer with six percent of world output after the United States, which accounts for 85 percent of the total.

Cherry production for 2015-16 is forecast to recover to 16,000 metric tonnes, following a decline in 2014/15 due to adverse seasonal conditions.

In July 2015, the Australian government released its long-anticipated White Paper, a ‘new policy platform’ for the agricultural sector aiming to increase its overall competitiveness and resilience...

Australian biofuels total production for 2015 is estimated at 330 million liters (ML), comprised of 265 ML of ethanol and 65 ML of biodiesel.

Australia is a leading international exporter of live cattle and Indonesia has been its main market for over two decades.