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Exports rise

AUSTRALIA’S minerals and energy sector’s export earnings increased by $5 billion to a record $43.8 billion in 1999-2000, according to the latest issue of Australian Mineral Statistics.

ABARE industry manager Tom Waring said the strong performance reflected significantly higher export prices and volumes for the majority of minerals and energy commodities.

He said while nickel, alumina and aluminium performed strongly, the oil and gas sector performed particularly well, doubling to more than $9 billion.

The significant increase in petroleum sector earnings was the result of a sharp rebound in production from a temporary contraction in the previous year and significantly higher unit prices.

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