Despite the global downturn caused by the COVID-19 pandemic, the latest trade figures show that total resources and energy exports in the four months to April are up by 1.4 per cent on the same period last year to $92.1 billion.
Minister for Resources, Water and Northern Australia Keith Pitt said the sector has shown resilience in a very challenging period.
“Iron ore continues to be a key contributor with exports totalling $31.6 billion in the first four months of 2020, which is a 21.3 per cent increase on 2019.”
“And over the same period, liquified natural gas (LNG) exports were up by 1 per cent on the previous year, valued at $16.9 billion in the four months to April.”
“As expected with global construction and manufacturing going into decline as the coronavirus pandemic grips some of our key trading partners, month-on-month figures fell by 11.5 per cent in April,” Minister Pitt said.
Despite some challenges lying ahead as the world fights to contain the COVID-19 pandemic, Minister Pitt noted that he remains confident that once the crisis passes, resources and energy exports will play a key role in Australia’s economic recovery.
“We knew the coronavirus would deliver a massive blow to our economy, but it would have been so much worse if not for the contribution of our coal, iron ore and LNG exports,” Minister Pitt said.