Mineral export earnings continue to rise
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Australia's export earnings from mineral resources rose to $22 billion in the December quarter 2005, an increase of $1.6 billion or 7.7 per cent from the previous quarter.
The March quarter results were released today by ABARE.
The commodities with the largest increases in export earnings for December 2005 quarter were copper, up $395 million, iron ore and pellets, which was up $366 million and coking coal (up $363 million).
Other commodities to fare well in export markets were: zinc (up $200 million); alumina (up $155 million); LNG (up $145 million); aluminium (up $139 million) and lead (up $103 million).
The index of export prices of Australian minerals resources (export unit returns) rose by 2.6 per cent in the December quarter 2005 compared with rises of 21 per cent in the June quarter and 7 per cent in the September quarters.
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15 March 2006
Mineral export earnings rose again in December quarter 2005
Australia's export earnings from mineral resources rose to $22 billion in the December quarter 2005, an increase of $1.6 billion or 7.7 per cent from earnings in the previous quarter.
The result is contained in the March quarter Australian Mineral Statistics report released today by Dr Brian Fisher, Executive Director of ABARE.
'Commodities with the largest increases in export earnings in the December quarter 2005 were copper (up $395 million); iron ore and pellets (up $366 million) and coking coal (up $363 million),' Dr Fisher said.
Other commodities that recorded significant increases in export earnings were: zinc (up $200 million); alumina (up $155 million); LNG (up $145 million); aluminium (up $139 million) and lead (up $103 million).
'These increased earnings mainly reflect significant increases in export volumes,' Dr Fisher stated.
The index of export prices of Australian minerals resources (export unit returns) rose by 2.6 per cent in the December quarter 2005 compared with rises of 21 and 7 per cent in the June and September quarters.
'This is further evidence that the heat is going out of the mineral resources boom,' Dr Fisher said.
Dr Fisher also noted that export earnings for some major export commodities decreased during the December quarter 2005, including crude oil, steaming coal, LPG and nickel.
ABARE's most recent short term (to 2006-07) and medium term (to 2010-11) forecasts of production, exports and prices for the full range of Australia's key mineral resource commodities, were published in the March issue of ABARE's quarterly journal, Australian Commodities, released on 28 February 2006.
Access to the March issue of Australian Commodities is available at ABARE's web site www.abareconomics.com