Oct 13, 2020

Mining holds steady in export earnings share

Mining holds steady in export earnings share

The Queensland resources industry is continuing to deliver around 80 per cent of the state’s export earnings despite disruptions to international markets and commodity prices.

The latest Queensland Treasury data shows the industry delivered $56.5 billion – or 79.25 percent – of the state’s total export earnings of $71.3 billion in the 12 months to August.

QRC chief executive officer Ian Macfarlane said Queensland export earnings had been impacted by COVID-19, with total export earnings down by $16 billion compared to the previous 12 months.

“But we’ve still contributed 80 percent of total exports ,” Mr Macfarlane said.

“Exports sales to overseas customers are critical to our prosperity at home in Queensland.  As a result of the men and women working in resources following COVID-safe practices, our industry is keeping the Queensland economy strong and continuing to contribute to a resources-led COVID recovery.”

Queensland’s resource exports across key commodities over the 12 months to August 2020 are led by metallurgical and thermal coal at $33.2 billion, liquefied natural gas at $13.8 billion and minerals at $9.5 billion.