Export earnings from Australia's minerals and energy sector increased by 32 per cent to a record $90.5 billion in 2005-06, the latest issue of Australian Mineral Statistics reveals.
The findings are contained in Australian Mineral Statistics (June quarter), released today by Dr Brian Fisher, Executive Director of ABARE.
'This stronger performance mainly reflected higher export prices for about 85 per cent of the minerals and energy commodities exported, along with increased export volumes for just over half of the commodities,' Dr Fisher explained.
'Commodities that recorded the largest increases in export earnings in 2005-06 were: coking coal, up $6318 million (59 per cent) to $17 076 million; iron ore and pellets, up $4391 million (54 per cent) to $12 511 million; and copper, up $2444 million (79 per cent) to $5226 million,' Dr Fisher said.
The index of export prices of Australian minerals resources (export unit returns) rose a further 32 per cent in 2005-06 compared with 2004-05. Prices for energy minerals rose by 36 per cent while metals and related minerals prices rose by 29 per cent.
'The increase in the index in 2005-06 mainly reflects substantial increases in world prices for most major minerals and energy commodities,' Dr Fisher said.
ABARE's most recent short term (to 2006-07) forecasts of production, exports and prices for the full range of Australia's key mineral resource commodities, will be published in the September issue of ABARE's quarterly journal, Australian Commodities, to be released electronically on 25 September 2006.
