Australian resource exports on track for record year – ABS

Australia’s resources and energy sector is on track for another record year of exports, new data from the Australian Bureau of Statistics (ABS) showed, while confirming the sector’s status as a cornerstone of the Australian economy.

Resources and Water Minister Keith Pitt said ABS international trade data for goods and services for September 2021 shows how important Australia’s resource exports continue to be for recovery from the global Covid-19 pandemic.

“These latest quarterly figures show Australia’s resources are the freebies that keep on giving. Our resource exports continue to bring in the hundreds of billions of dollars to the country and keep thousands of Australians in high-value and highly skilled jobs, particularly in the Australian region.

“As the incredibly strong race for iron ore cools, growing demand for our coal and liquefied natural gas (LNG) is fueling increased export revenues.

“Total exports of resources and energy stood at A $ 95.9 billion for the three months ending September 2021, 50% more than the same period last year and 11% more than in the three previous months until June 2021.

“Resource exports totaled A $ 332.6 billion for the year through September, an impressive 23% over the previous 12 months,” Pitt said.

“Coal was an exceptional performer. Exports reached AU $ 16.3 billion in the three months to September 2021, up 80% from the same period last year and 47% more than in the three months prior to ‘in June 2021. “

Total iron ore exports stood at A $ 44.4 billion in the three months to September 2021, an increase of 48% from the same period last year. Exports amounted to A $ 167.3 billion in the 12 months ending September 2021, up 58% from the previous 12 months.

LNG exports amounted to A $ 13.9 billion for the quarter through September 2021, up 130% from the same period last year and 59% over the previous three months up to ‘in June.

Pitt said Australian resources are also supporting the global economic recovery.

“The resource industry supports our regions, but it also supports the growth and prosperity of large parts of the world – our commodities are essential to much of the world’s manufacturing and energy supply,” he said. -he declares.

“These solid numbers are also a testament to the Australian men and women in the resources and energy sector whose hard work continues to support the Australian economy.”
Source: MiningWeekly

About Michael Sample

Check Also

Manitoba industries grapple with transportation system ravaged by severe flooding

WINNIPEG – The evolving crisis in southern British Columbia severed the main transportation networks used …

Leave a Reply

Your email address will not be published. Required fields are marked *