Tuesday 30th Nov, 2021

Australian exports on track to break records

Australia's bulk commodity shippers could be challenged by international competition. Photo: Shutterstock
Photo: Shutterstock

Australia’s resources and energy sector is on target for another record year of exports, according to new trade data.

Federal Resources and Water Minister Keith Pitt said the Australian Bureau of Statistics’ International Trade in Goods and Services data for September 2021 show how important resources exports continue to be to the recovery from the global COVID-19 pandemic.

“These latest quarterly figures show Australia’s resources are the gifts that keep on giving,” Pitt said.

“Our resources exports continue to bring hundreds of billions of dollars into the country and keep thousands of Australians in high-value, high-skilled jobs – particularly in regional Australia.

“Just as iron ore’s incredibly strong run cools, soaring demand for our coal and liquefied natural gas is fuelling a surge in export revenues.”

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Total resources and energy exports were $95.9 billion for the 3 months to September 2021, which is 50 per cent higher than for the same period last year and 11 per cent higher than in the previous 3 months to June 2021.

Pitt said Resources exports were $332.6 billion in total for the year to September, an impressive 23 per cent higher than the previous 12 months.

“Coal has been an outstanding performer. Exports climbed to $16.3 billion in the 3 months to September 2021, up 80 per cent on the same period last year and 47 per cent higher than for the previous 3 months to June 2021.”

Total iron ore exports were $44.4 billion in the 3 months to September 2021, which was up 48 per cent on the same period last year. Exports were $167.3 billion in the 12 months to September 2021 which was 58 per cent higher than for the previous 12 months (to September 2020).