Qld coal exports compensating for weaker agricultural exports

THE surge in Queensland’s coal exports is covering the sharp drop in the state’s agricultural exports that has resulted from a severe drought that has gripped the state, according to Queensland Treasury figures.
Qld coal exports compensating for weaker agricultural exports Qld coal exports compensating for weaker agricultural exports Qld coal exports compensating for weaker agricultural exports Qld coal exports compensating for weaker agricultural exports Qld coal exports compensating for weaker agricultural exports

Queensland coal exports are more than compensating for the drop in agricultural exports.

The largest increase in the value of Queensland commodity exports for the year ending May 2019 was recorded in coal, which increased by $4 billion.

 

On the other hand, the largest decrease in the value of exports for that period was crops, which decreased by $583.2 million.

 

The coal commodity group recorded the largest export value from Queensland for the year to May 2019 with $36.9 billion.

 

Exports of hard-coking coal, used primarily in steel-making, reached $29.5 billion in the 12 months to May 2019 - up more than $2.9 billion, or 11%, on the same period a year earlier. Thermal coal export values totalled $7.4 billion - up $1 billion over the year.

 

Queensland Resources Council CEO Ian Macfarlane said the Queensland resources sector, which employed more than 315,000 men and women across the state, delivered 81% of Queensland's record export earnings of $85.8 billion for the 12 months to May this year.

 

"In dollar terms, exports from the resources sector - coal, minerals and gas - are worth more than $190 million every day," he said.

 

"That means more jobs and frankly more money going into communities across Queensland, including Brisbane and the south-east."

 

Macfarlane said coal continued to be Queensland's largest export earner at $36.9 billion, with an increase of 12% or $4 billion over the previous 12 months, and there was strong growth for minerals and petroleum and LNG.

 

"Queensland has what the world needs," he said.

 

"With the stable policy settings, the resources sector can continue to grow and in doing so create more jobs and more opportunities for Queenslanders."