According to the most recent trade data, Australia’s resources and energy exports increased by about a third in calendar 2021 compared to the previous year.
Total resources and energy exports were worth $348.9 billion in the 12 months to December 2021, according to the Australian Bureau of Statistics’ International Trade in Goods and Services data. This is a 29% increase from the previous 12 months to December 2020.
As a result of plummeting prices, iron ore export revenues fell to $24.9 billion in the three months to December 2021, down 29% from the previous period.
Exports, on the other hand, were $154.2 billion in the year to December 2021, up 32% from the previous year.
Coal exports totalled $23.8 billion in the three months to December 2021 – which is a major 156% increase than for the same period to December 2020.
Liquefied natural gas exports saw a similar increase of 148% for the same period in the previous year.
According to Minister for Resources and Water Keith Pitt, the latest figures further cement Australia’s position as a global resource and energy leader.
“These export earnings continue to create and sustain jobs for Australians, particularly in regional areas. It also means the resulting royalties can continue to fund the infrastructure and services we rely on, such as schools, roads and hospitals,” said Minister Pitt.
“Resources remain far and away Australia’s biggest export earner, and continue to underpin the strength of the national economy. The outlook for our resources and energy sector continues to be positive as global demand for Australian resources remains strong, particularly for our coal and gas.
“The most recent forecast estimated resources and energy exports would reach a record high of $379 billion this financial year and these latest figures suggest that target will be achieved.”
