Economic Growth and Development of Countries in the Asia Pacific Region: Some Implications for Australian Food Exporters

From the early 1970s until the Asian currency crisis in 1997, economic growth rates in the countries of the Asia Pacific region were above OECD averages. This was partly because priority in these countries has been achieving growth in manufacturing industries. The shift in emphasis from agriculture to manufacturing has resulted in these countries as a group becoming more reliant on agricultural exporters such as Australia and the United States for their food requirements. This paper provides an overview of the economic growth and development of the countries in the Asia Pacific region since the mid 1960s, in terms of changing trade and investment patterns; liberalisation and deregulation; and the role of the agricultural sector. Economic growth and development of the region has been accompanied by increasing disposable incomes and a range of changes to these economies, as well as changes in diet. However, there are differences in food consumption patterns amongst these countries. These differences reflect a variety of factors, including variations in economic performance, religious beliefs, cultural factors, government policies and agricultural resources