The value of Australia’s resources and energy exports in 2011 increased by 15% from the previous year to a record A$190bn (US$200bn), according to the Resources and Energy Statistics December quarter 2011 report released today by the Bureau of Resources and Energy Economics.
The index of unit returns of Australian exports for mineral resources increased by 14% in 2011, compared with 2010. Export prices for metals and other minerals increased by 9%, while export unit returns for energy commodities increased by 20%.
Commodities that recorded significant increases in export earnings in 2011, relative to 2010 include: iron ore, up AUD$9.9bn (20%) to AUD$59.3bn; thermal coal, up A$2.4bn (18%) to A$15.6bn; LNG, up A$1.6bn (16%) to A$11.1bn; metallurgical coal, up A$1.7bn (6%) to A$31.3bn; and crude oil and other refinery feedstock, up A$1.3bn (12%) to A$12.3bn.
Commodities that recorded significant declines in export earnings in 2011 compared with 2010 include: iron and steel, down A$311 (22%) to A$1.1bn, liquefied petroleum gas, down A$112m (10%) to A$969m; and refined silver, down A$92m (39%) to A$144m.