PERTH (miningweekly.com) – Despite a challenging 12 months, Australia’s resources and energy exports continue to surge, according to the latest trade data from the Australian Bureau of Statistics (ABS).

Minister for Resources and Water Keith Pitt said the ABS’ International Trade in Goods and Services data for October 2021 shows resources and energy exports continue to go from strength to strength.

“These latest figures confirm again the resources sector as a long-standing and major contributor to Australia’s economy with coal and gas the star performers in the latest figures,” Pitt said.

“The sector is performing even better than it was before the Covid pandemic.

“Total resources and energy exports were A$91.8-billion for the three months to October 2021, which is 41% higher than for the same period last year.

“For the year to October 2021, resources and energy exports earned A$337.7-billion, which is an increase of 25% on the previous 12 months, making an enormous contribution to the national economy.” 

Pitt said Australia’s coal exports were thriving as strong demand and prices continued.

“Thermal and metallurgical coal exports hit A$18.4-billion in the three months to October, which is double the earnings over the same period last year and 46% higher than for the previous three months to June 2021.

“Demand for our liquefied natural gas saw exports reach a phenomenal A$15.4-billion for the three months to October 2021.

“The figure was 161% higher than for the same period last year and 54% higher than for the previous three months to July 2021."  

Total iron-ore exports were A$34.6-billion in the three months to October 2021, which was up 9% on the same period last year, but down 33% on the previous three months to July 2021. Exports for the year to October were A$163.2-billion, 49% higher than for the previous 12 months to October 2020.

“The resources and energy sector already provides direct jobs for around 268 000 Australians and supports the employment of over a million more. The growth shown in these earnings across the sector simply means more jobs and more opportunities for Australia,” Pitt said.