PERTH (miningweekly.com) – The latest trade data from the Australian Bureau of Statistics (ABS) has shown that coal continued to lead the surge in Australia’s export earnings for January.

The ABS’ International Trade in Goods and Services data for January 2022 shows total resources and energy exports were worth A$356.5-billion in the 12 months to January, which was a 29% increase on the previous 12 months.

Resources and Water Minister Keith Pitt said Australia’s thriving resources sector continued to be a significant contributor to the strength of the national economy.

“Recent requests from Poland to Australia for coal from sources alternative to Russia show the world is increasingly looking to Australia for the resources needed to provide energy security.

“In uncertain times, our resources sector’s outstanding reputation as a leading and reliable supplier is providing stability here and abroad. Coal was a stand-out performer with A$67.42-billion in total exports for the 12 months to January, up 60% on the previous year.

“Total coal exports in the three months to January were A$24.27 billion, a staggering 159% increase on the same period a year earlier and 18% above the earnings for the three months to October 2021,” Pitt said.

“Liquefied natural gas reached similar heights, with A$52.85-billion in total export earnings for the 12 months to January, up 52% on the previous year. The A$18.64-billion earnings for the three months to January was 134% up on the same period last year. It was also a 19% increase on the three months to October 2021.”

Iron-ore export earnings for the 12 months to January totalled A$151.65-billion, which was 24% up on the previous year. The A$26.73-billion earned for the three months to January was 19% down on the previous three months to October 2021. 

“Our resources and energy sector, Australia’s biggest export earner, continues to provide the backbone for a strong economy and, importantly, create jobs, particularly for regional Australians,” Pitt said.