Photo by: Bloomberg
PERTH (miningweekly.com) – New data from the Australian Bureau of Statistics (ABS) has revealed record exports from Australia in 2018, with resources earnings export revenues of some A$248-billion.
This was the highest-ever annual export value and accounted for 72% of Australia’s goods exports.
The ABS data showed that coal became Australia’s largest export earner in 2018, with higher prices and export volumes supporting a record high A$66-billion in export revenue.
2018 was also another strongly performing year for Australia’s world-leading gold industry, with A$20-billion of gold exports based on rising production at existing operations and new mines opening up in Western Australia.
“Importantly, this new record in resources export revenue is delivering benefits to all Australians through the creation of high-paying, high skilled jobs,” said Minerals Council of Australia (MCA) CEO Tania Constable.
“The mining and mining equipment, technology and services (METS) sectors supports one in ten Australian jobs, mostly in regional and remote communities.
State governments have also seen a rise in their mineral royalties with A$12-billion collected last financial year, funding nurses, police, firefighters and teachers and other essential services and infrastructure.
“The mining boom has delivered significant growth in Australia’s iron-ore, coal, gold and gas exports, with our nation strategically positioned for the opportunities presented by growth in new consumer, energy and transportation technologies around the world.”
Constable pointed out that Australia has extensive resources of rare-earth elements, base metals, lithium and precious metals from which smart phones, electric vehicles, modern energy systems and industrial machinery are made.
“Australia is already the world’s largest producer of lithium and one of the few countries to produce rare earth elements, but more needs to be done to support the development of new mines in Australia.
“These new record results reinforce the need for consistent government policies that encourage further investment and productivity growth.”