AGRICULTURE is "punching above its weight" according to the National Farmers' Federation's latest Farm Facts data.

The lobby groups Farm Facts 2012 shows Aussie farmers produce almost 93 per cent of Australia's daily domestic food supply.

NFF president Jock Laurie said the average Australian farmer grew food to feed 600 people:  150 at home and 450 abroad.

"In 2010-11 alone, Australia's farm exports earned the country $32.5 billion, up $400 million in two years. And the gross value of Australian farm production at farm gate in 2009-10 was $48.7 billion – up a massive $600,000 million in just one year," Mr Laurie said.

"These increases in productivity and value show that our sector has enormous strength and potential, and that we are well placed to meet the challenges ahead.

"Challenges like the declining number of farm businesses in Australia, the increase in the average age of Australian farmers to 52 (12 years above the national average for other occupations), and the labour shortage that the industry faces, with some 18,000 people having left the sector in the last year alone."

He said the UN estimated that production would need to rise by 70 per cent by 2050 to feed the world and he called for more investments in research and development.