Minerals exports up by 25%
The Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) latest report on Australian mineral statistics has found that Australia’s export earnings from energy and mineral commodities increased by 25% last year, to $165 billion.
In 2010 as a whole, the average index of export unit returns was 13 per cent higher, compared with 2009 as prices for energy commodities declined by 1 per cent and prices for metals and other minerals increased by 24 per cent.
However, despite the year-on-year price rise, the December quarter showed a 7 per cent decrease in the index of export prices for Australia’s energy and mineral resources compared with the September 2010 quarter.
Other key findings of the report are:
- The average index of export prices of energy and mineral resources increased by 13 percent in 2010 (as compared with 2009), reflecting higher commodity prices, including for iron ore, metallurgical coal and some base metals.
- Export volumes increased for most commodities in 2010, including bauxite, metallurgical coal, iron ore, iron and steel, and manganese ore and concentrate.
- Around half of the commodities covered recorded higher production in 2010 than in 2009.
The report provides a breakdown of performance figures by minerals sector for the quarter, including production values on a state by state basis.
The report, Australian Mineral Statistics 2011, is available at http://www.abares.gov.au