Export volume record for coal and iron ore
While Australia’s export earnings from energy and mineral resources fell by two percent to $30.2 billion in the September quarter, export volumes have reached a record high for coal and iron ore, according to the Australian Bureau of Agricultural and Resource Economics (ABARE).
“Strong demand for coal and iron ore from Japan, the Republic of Korea and China underpinned record export volumes in the September quarter,” said Dr Terry Sheales, ABARE deputy executive director.
ABARE’s latest Australian mineral statistics report attributes the dip in export earnings to the high Australian dollar, which appreciated 10 percent during the quarter.
On the up were export sales for liquefied petroleum gas, up 47 percent, and nickel, up 31 percent, while the resources with the highest declines were diamonds, down 22 percent, and gold down 13 percent.
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