Coal and gas the star export performers: Pitt

Coal

Port of Gladstone

Australia’s energy and resources exports increased by 41 per cent over the three months to October this year compared to the same period last year, according to the Australian Bureau of Statistics (ABS).

ABS International Trade in Goods and Services data shows total resources and energy exports were $91.8 billion for the three months to October 2021.

Federal Minister for Resources and Water Keith Pitt said the latest figures show Australia’s resources and energy exports continue to go from strength to strength.

“For the year to October 2021, resources and energy exports earnt $337.7 billion, which is an increase of 25 per cent on the previous 12 months making an enormous contribution to the national economy,” Pitt said.

“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.

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

Total iron ore exports were $34.6 billion in the three months to October 2021, which was up 9 per cent on the same period last year, but down 33 per cent on the previous three months to July 2021.

Exports for the year to October were $163.2 billion – 49 per cent higher than for the previous 12 months (to October 2020).

Pitt said Australia’s coal exports are thriving as strong demand and prices continue.

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

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

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

“The resources and energy sector already provides direct jobs for around 268,000 Australians and support the employment of over a million more.”

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