The anatomy of Australia's wine boom: lessons for other industries

Abstract

The rural sector's share of Australia's exports has been declining for decades. Having been above 60 per cent prior to the 1960s it was around 40 per cent in the 1970s but has been barely above 20 per cent in the 1990s (the same share as services and only two-thirds that of mineral resources -- see ABARE 1997a, 2000). Nonetheless, Australia's rural exports continue to expand in aggregate value and volume terms and, within that aggregate, some industries are doing much better than others. This raises the question as to what can be learnt from the successful cases.