Photo by: Bloomberg
PERTH (miningweekly.com) – Australia’s resources and energy sector is on target for another record year of exports, new data from the Australian Bureau of Statistics (ABS) has shown, while confirming the sector’s status as a cornerstone of Australia’s economy.
Minister for Resources and Water Keith Pitt said ABS’ International Trade in Goods and Services data for September 2021 showed how important Australia’s resources exports continue to be to the recovery from the global Covid-19 pandemic.
“These latest quarterly figures show Australia’s resources are the gifts that keep on giving. Our resources exports continue to bring hundreds of billions of dollars into the country and keep thousands of Australians in high-value, high-skilled jobs, particularly in regional Australia.
“Just as iron-ore’s incredibly strong run cools, soaring demand for our coal and liquefied natural gas (LNG) is fuelling a surge in export revenues.
“Total resources and energy exports were A$95.9-billion for the three months to September 2021, which is 50% higher than for the same period last year and 11% higher than in the previous three months to June 2021.
“Resources exports were A$332.6-billion in total for the year to September, an impressive 23% higher than the previous 12 months,” Pitt said.
“Coal has been an outstanding performer. Exports climbed to A$16.3-billion in the three months to September 2021, up 80% on the same period last year and 47% higher than for the previous three months to June 2021."
Total iron-ore exports were A$44.4-billion in the three months to September 2021, which was up 48% on the same period last year. Exports were A$167.3-billion in the 12 months to September 2021 which was 58% higher than for the previous 12 months.
LNG exports were A$13.9-billion for the quarter to September 2021, which was 130% more than for the same period last year and 59% higher than for the previous three months to June.
Pitt said Australia resources were also supporting the global economic recovery.
“The resources industry supports our regions, but it also underpins growth and prosperity for large parts of the world - our commodities are pivotal to much of global manufacturing and energy supply,” he said.
“These strong figures are also a testament to the Australian men and women of the resources and energy sector whose hard work continues to support the Australian economy.”