Export earnings fell marginally by 2% – representing a $262 million decrease to $12.6 billion – ABARE said in its quarterly mineral statistics report.

Coking coal experienced the largest fall in export earnings, down 10%, or $150 million, to $1.379 billion. This was mainly a result of a 7% fall in export volumes combined with a 4% decline in export prices.

Whilst coking coal was a little depressed, steaming coal counted itself in the achievers group, increasing export earnings by $42 million during the quarter.

Principal commodity analyst of minerals and energy at ABARE, Ian Haine, told MiningNews.net most of the production decreases were attributable to seasonal factors.

The decreased export earnings were not indicative of a depressed industry, Haines said, but the result of a strong Australian dollar.

"What we have seen since the end of the March quarter is a bit of a decline in the Australian dollar against the US dollar and that is going to help export income."

ABARE is due to release its revised forecast of mineral production, exports and prices for 2003-04 and 2004-05 next week. Haines wouldn't give too much away but did say forecasts were more positive than this time last year.

"It's likely that going forward we are going to see an increase in export income for a majority of commodities."