abare conference paper 02 22 commodities outlook for 2002 03 and farm performance estimates the northern territory terry sheales trish gleeson australian bureau of agricultural resource economics alice springs regional convention centre 5 december project 1193 issn 1447 3666 prospects sector in will be heavily depen dent on maintenance at least modest world economic growth activity driven largely by developments us economy which is assumed to continue improve following poor 2001 drought expected prove costly national it estimated that value lost production flow effects rest community cut around 0 7 per cent or 4 billion from aus tralia s gross domestic product year grain farmers hit hardest with winter crop forecast down 56 21 million tonnes last record result livestock producers worst affected areas are being forced sell cattle sheep prematurely having
