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Australian resources exports hit record high in 2018

February 7, 2019 • News

Australian resources exports have reached a record high of $248 billion in 2018, according to figures from the Australian Bureau of Statistics (ABS).

Minister for Resources and Northern Australia Matt Canavan said ABS data showed the result was powered by strong export performance by iron ore, gas, gold and particularly coal.

“Higher prices and export volumes produced a record $66 billion in exports of coal, and made it Australia’s most valuable single export,” the Minister said.

“This highlights the continuing role of coal in providing jobs and income for communities throughout Australia, and in underpinning our strong national economic performance.

“There is also good potential for expanded earnings as output from existing coal basins is increased and the Galilee Basin is brought into production.”

He said the 2018 coal exports were up 16% on the previous year’s $57 billion, with resource exports across the board up 20% on the previous year’s $206 billion.

“Resources contributed 72 per cent of Australia’s export of goods in the year and more than half of the nation’s total exports of goods and services,” Mr Canavan continued.

“Mining is creating high-skill, high-pay jobs throughout Australia, often in regional areas.

“These latest figures are proof once again that Australia’s mining boom is far from over.”

Image credit: industry.gov.au

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