Mining exports continue to show good growth – ABS
PERTH (miningweekly.com) – New data by the Australian Bureau of Statistics (ABS) has shown that the mining sector’s contribution to Australia’s economic prosperity continued to grow, with exports rising by A$640-million between January and February, to A$32.9-billion.
The ABS data showed that exports of iron-ore were worth A$5.39-billion in February, an increase of 53% compared with February last year, while coal exports were valued at A$4.26-billion, a 76% year-on-year increase.
Gold exports were worth A$1.38-billion, up 55% compared with a year earlier.
“While Cyclone Debbie’s aftermath may cause some disruptions to Queensland coal shipments in the coming period, the latest figures show coal exports in the first eight months of 2016/17 have already reached close to the level achieved over the full 2015/16 financial year,” Minerals Council of Australia CEO Brendan Pearson said on Wednesday.
“The increases in export earnings reflect higher prices for key commodities on global markets and the Australian mining industry’s role as a major exporter to key Asian markets.”
Pearson noted that the investment phase of the mining boom had underwritten an expansion in production which, in turn, was making a major contribution to Australian economic growth.
The latest trade figures follow recent research estimating that the Australian mining and mining, equipment and technology services (Mets) sectors together generated more than A$236-billion in value added, or 15% of Australia’s economy, in 2015/16.
The research also showed that the mining and Mets sectors supported more than 1.1-million Australian jobs, or around one in every ten jobs, in 2015/16.
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