LNG, minerals push FY Qld exports to A$47bn
PERTH (miningweekly.com) – Liquefied natural gas (LNG), minerals and meat have driven a 17.9% quarter-on-quarter increase in Queensland’s merchandise exports to A$12.9-billion for the quarter ended June.
This pushed the state’s merchandise exports to nearly A$47-billion for the year to June 30, according to official Australian Bureau of Statistics (ABS) data, released this week.
“This is great news for the Queensland economy, as our exporters get on with the job of promoting growth and earning the state valuable export dollars,” Queensland Treasurer Curtis Pitt said.
“The result is being driven by increases in the value of meat and minerals exports, as well as the first six months of LNG exports.”
Pitt said minerals exports rose by A$440-million in 2014/15, to A$8.1-billion, highlighting the resilience of the state’s resources sector.
Zinc and aluminium exports were up A$548-million and A$279-million respectively, while LNG shipments from the Port of Gladstone also started in early January 2015, contributing A$849-million worth of exports in 2014/15.
The ABS data revealed that while coal export volumes rose 5% over the year, lower prices drove the decline in export values.
Pitt noted that coal remained Queensland’s largest merchandise export, accounting for over half of the value of the state’s overall merchandise exports.
He said the ABS data had revealed that Queensland’s crops exports also increased in 2014/15 after a tough 2013/14.
“Queensland has a more diverse economy compared to the other resources states, such as Western Australia. Our mining sector accounted for around 10% of total state output in 2013/14, compared to 30% in Western Australia.
“We have a broad-based economy and with the ramp-up of LNG exports to continue in 2015/16, Queensland is forecast to grow faster this year, at 4.5%, than all other states,” Pitt said.
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