Trade data recently released by the Australian Bureau of Statistics shows resources export revenue reached a new record high of $351 billion in 2021, up 21 per cent from the previous record set in 2019 and up 29 per cent on the previous 12 months to December 2020.
Resources contributed 68 per cent to Australia’s total export revenue in 2021.
Minister for Resources and Water Keith Pitt said the latest monthly figures show Australia’s resource and energy exports continue to surge in record territory.
He said: “It is important to thank the men and women in our resources and energy sector for their stellar work in ensuring our valuable commodities are meeting global demand.
“These export earnings continue to create and sustain jobs for Australians, particularly in regional areas.
“It also means the resulting royalties can continue to fund the infrastructure and services we rely on, such as schools, roads and hospitals.
“Coal was again a major contributor with exports totalling $23.8 billion in the three months to December 2021 – a massive 156 per cent higher than for the same period to December 2020.
“Liquefied natural gas exports saw a similar increase, [with] the $18.3 billion earnt in the three months to December 2021 was 148 per cent higher than for the same period in the previous year.”
Iron ore contributed $154.2 billion, up 32 per cent from 2020 and a new record high.
Coal contributed $62 billion, up 43 per cent from 2020, and aluminium (including alumina and bauxite) was $13.7 billion, up 15 per cent from 2020.
Copper (metal and concentrates) contributed $12.1 billion, up 14 per cent from 2020, also a new record high, while gold contributed $25.9 billion.
Minerals Council of Australia chief executive Tania Constable said the incredible growth in revenue delivered Australia its largest ever trade surplus ($123 billion) during the COVID-19 pandemic, at a time when it needed economic stimulus the most.
Constable added: “This record growth demonstrates the importance of Australia’s mining industry to our economy.
“Ongoing demand for resources is driving the 258,000 direct mining jobs, with significant benefits flowing to all of Australia and particularly regional communities.”