Gold has surpassed both coal and liquefied natural gas to become Australia’s second-largest commodity export, a shift the World Gold Council has described as a landmark moment for the nation’s mining industry.
According to the June 2026 Resources and Energy Quarterly, published by the Department of Industry, Science and Resources, Australian gold generated $68.4 billion in export earnings during the 2025/2026 financial year.
That figure trails only iron ore, which brought in $116.6 billion, and now exceeds the combined value of coal exports at A$67.6 billion and LNG at $59.4 billion.
The result confirms gold’s position as Australia’s second-largest resource export for the first time since the early 1960s. Historical data shows only one brief exception to this in the decades since, a short-lived resurgence in 1987.
The outlook suggests the trend will continue. Elevated prices and growing export volumes are forecast to lift gold export earnings further, to $73.1 billion in 2026-27.
That would keep gold ahead of combined coal exports, projected at $69.8 billion, while also narrowing the gap with iron ore, whose lead is expected to shrink to $107.7 billion.
Shaokai Fan, the World Gold Council’s Head of APAC ex-China and Global Head of Central Banks, said the milestone reinforced Australia’s standing among the world’s leading gold-producing nations and underlined the sector’s contribution to national prosperity.
Gold has long been a major part of Australia’s economic story, Fan said, adding that its rise to become the second-largest resource export shows just how important the sector remains today.
He noted that Australia ranks as the world’s third-largest gold producer, behind China and Russia, and is globally recognised for its technical expertise, strong governance and responsible mining practices.
While robust demand and a higher gold price have undoubtedly lifted the commodity’s position on the export ladder, Fan said the strength of Australian gold reflects far more than shifting demand.
He pointed instead to the nation’s world-class geology, mining capability, capital markets, skilled workforce and regulatory stability as the real foundations of that success.
Fan added that Australia has established itself as a benchmark for how a modern gold industry can create value, not only through exports and investment but also through jobs, local procurement, government revenues and support for regional communities.
The broader economic footprint of the industry was highlighted in World Gold Council data released late last year.
It found that member companies contributed almost US$7.9 billion in direct in-country payments across Australia in 2024.
Of that total, US$5.6 billion went to Australian suppliers, US$1.2 billion to governments, and US$1.1 billion to nearly 15,000 employees and contractors.
Annual community investments amounted to a further US$30 million.
As gold’s strategic importance continues to grow, Fan said, building trust and confidence in the global gold value chain remains essential.
He said continued collaboration across industry, governments and other stakeholders can help ensure gold continues to deliver lasting economic and social benefits to communities around the world.
Fan said Australia is well placed to keep benefiting, both economically and socially, from gold as institutions and investors increasingly look for trusted and diversified sources of economic growth and resilience in an increasingly complex global environment.
