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Agriculture is still an important component of the Hume economy but its contribution is declining. The service economy has experienced the strongest employment growth in the last decade. Viticulture has grown as an industry, supported by fine-food areas, particularly in Milawa, Oxley and the Kiewa, Ovens and King Valleys.

The Goulburn Valley has a strong rural economy based on irrigated and dry land agriculture, grazing, viticulture and forestry. The region is widely regarded as the food bowl of the Murray darling Basin. In other areas particularly in Strathbogie Shire, there is a significant equine industry.

The Goulburn Valley region is of national significance for dairying and horticulture and supports a large fruit and vegetable processing industry. The dairy and beef industries account for a high proportion of this value, although wool and meat dominate in Strathbogie Shire. Major food-processing companies are located in the region, including SpC Ardmona, Campbell’s Soups and Unilever.

The main primary industries are horticulture, dairy, cropping, viticulture, wool, forestry and grazing (sheep and beef).

Grazing is the dominant agricultural land use and the proximity of the region to Melbourne accounts for the relatively high value of production, particularly from the poultry industry. Pockets of horticulture also exist, including nurseries, cut flowers, cultivated turf, tomatoes and berries produced primarily for the Melbourne market. The region also has viticulture and aquaculture industries (trout and salmon).
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