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Australia's mined resources exports hit record high

Australia exported a record A$248 billion (US$179.5 billion) worth of mined resources in 2018, accounting for 72% of the country’s exported goods, according to Australian Bureau of Statistics trade data.
Australia's mined resources exports hit record high Australia's mined resources exports hit record high Australia's mined resources exports hit record high Australia's mined resources exports hit record high Australia's mined resources exports hit record high

Coal was Australia’s number one export earner in 2018

Staff reporter

"Importantly, this new record in resources export revenue is delivering benefits to all Australians through the creation of high-paying, high skilled jobs," Minerals Council of Australia CEO Tania Constable said.

"The mining and mining equipment, technology and services (METS) sector supports one in 10 Australian jobs, mostly in regional and remote communities".

She said the trade data showed coal was Australia's number one export earner in 2018, with higher prices and export volumes leading to a record high $66 billion in export revenue.

The country's gold sector also had a strong year, with $20 billion of gold exported, assisted by higher Australian-dollar gold prices and increased production at existing operations and new mines.

"The mining boom has delivered significant growth in Australia's iron ore, coal, gold and gas exports, with our nation strategically positioned for the opportunities presented by growth in new consumer, energy and transportation technologies around the world," Constable said.

On top of exports rising, she said Australian states had received higher mineral royalties, with $12 billion collected in the past financial year.

Constable said the new record results reinforced the need for consistent government policies to encourage further investment and productivity growth, which in turn would support the development of new mines.

"Policy certainty is essential for the Australian mining industry to maintain its world-leading position, and for miners to meet the challenge of increased global competition from emerging mining regions," she said.