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Export earnings by the Australian minerals and energy sector increased by 29% to a record $A67.4 billion in 2004-05.
Major commodities to record the largest increases in export earnings were coking coal, followed by iron ore and pellets, up 53%, and steaming coal, up $A1.964 billion (45%) to $A6.336 billion.
Prices for energy minerals increased by 43%, while metals and related minerals prices increased by 19%.
“Each of these commodities recorded increases in both export prices and volumes, particularly in the June quarter, following substantial increases in contract prices from Asian steel mills and electricity generation plants,” ABARE director Dr Brian Fisher said.
