The figures, derived from the Bureau of Resources and Energy Economics’ latest quarterly, showed a record value of resources and energy exports in 2011 was achieved due to the growth seen in the coal, liquefied natural gas and iron ore sectors.

During the December 2011 quarter, export earnings from thermal coal was up $420 million to $4.7 billion.

While saleable black coal production was down by 2% in 2011 due to disruptions caused by the Queensland floods, export earnings for metallurgical coal in 2011 increased by 6% to $31 billion, as lower export volumes were offset by higher prices.

Meanwhile, thermal coal export earnings increased by 18% to $16 billion, reflecting higher export volumes and prices.

Resources and Energy Minister Martin Ferguson said the figures depicted the huge contribution the resource and energy sectors were making to Australia’s continued economic growth.

“The results confirm the resilience of the sector with the growth in iron ore, thermal coal, LNG, metallurgical coal and crude oil offsetting declines in commodities such as LPG and silver,” he said.

Ferguson noted the 6% growth in metallurgical coal exports occurred despite the Queensland floods, proving that export revenues could be maintained through challenging times.

“In coming years we expect to see further increases in volumes for key commodities as investment projects currently underway start production in the future.”