Photo by: Bloomberg
PERTH (miningweekly.com) – The Australian Bureau of Statistics (ABS) on Thursday announced a trade surplus of A$10.4-billion in June, up A$1.2-billion on the surplus recorded for May, while the resources sector has set new records for total export value and a range of mineral commodities in the 2020/21 financial year.
Quoting data from the ABS, the Minerals Council of Australia (MCA) noted that the mining industry had generated a new record high of almost A$300-billion in export revenue for the Australian economy.
“As Australians cheer on our sporting champions at the Tokyo Olympics, they should be equally proud of our great mining workforce and the regional communities which continue to support the Australian minerals industry in breaking export records and meeting global demand for our world-class commodities,” MCA CEO Tania Constable said on Thursday.
The ABS data reported resources exports of A$299.6-billion, including minerals, coal, metals, oil and gas, as well as a record high trade surplus of A$89-billion for the full year.
The ABS also reported the highest ever share of export revenue contributed by resources, reported at 66%, underpinned by record iron-ore exports of A$151.9-billion, which accounted for 33% of total export revenue, record gold exports of A$28.4-billion, and record copper exports of A$11.5-billion.
“While metropolitan lockdowns continue to affect our economic growth, Australia’s regional industries like mining are keeping the nation strong and helping to fund the support required for individuals and businesses to get through the Covid-19 pandemic,” Constable said.