PERTH (miningweekly.com) – New data from the Australian Bureau of Statistics has again highlighted the importance of resources to the Australian economy, with a trade surplus of more than A$15-million reported in August.
Australia exported some A$33.9-billion of mineral, metal and energy commodities, which accounted for 69% of the export revenue and were the foundation of a new record high trade surplus, the Minerals Council of Australia (MCA) pointed out.
Iron-ore exports remained Australia’s largest export, with robust demand for the steelmaking commodity underpinning iron-ore exports of A$15.5-billion, up 52% year-on-year, while Australia’s coal exports also continued to rise in August.
High prices and strong energy demand in key markets across Asia supported coal export values increasing 74% year-on-year to A$5.5-billion.
“Resources export revenue is driving new job-creating investment in mining and its supply chains, paying the wages of 256 000 Australians and generating tax and royalty revenue when governments need it most,” said MCA CEO Tania Constable.
“When mining is strong, all Australians win.”