Resources continues to carry Qld economy - Treasury
PERTH (miningweekly.com) – New data from the Queensland Treasury has shown that the resources industry continued to contribute significantly to the state budget, despite the Covid-19 pandemic.
Over the year to August, the value of Queensland’s exports decreased A$16.1-billion to A$71.3-billion, as international markets were disrupted.
Queensland Resources Council CEO Ian Macfarlane said over the 12 months to August 2020, the 372 000 Queensland men and women working in resources helped deliver A$56.5-billion, or 79.25%, of the state’s total export earnings of A$71.3-billion.
“Queensland export earnings have been impacted by Covid-19, with total export earnings down by A$16-billion compared to the previous 12 months, but we’ve still contributed 80% of total exports,” Macfarlane said.
Queensland’s resource exports across key commodities over the 12 months to August 2020 are led by metallurgical and thermal coal at A$33.2-billion, liquefied natural gas at A$13.8-billion and minerals at A$9.5-billion.
“Exports sales to overseas customers are critical to our prosperity at home in Queensland. As a result of the men and women working in resources following Covid-safe practices, our industry is keeping the Queensland economy strong and continuing to contribute to a resources-led Covid recovery.
“The world needs what Queensland has, but we also need to have long-term, stable policy and royalty settings to ensure the resources industry can continue to invest, employ and export at the level we currently do, and on which our state economy depends.”
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