Earnings from mineral exports hit the A$100bn mark in 2006-07 as a result of higher prices and volumes, according to a new Australian report.
In a report by The Australian Bureau of Agricultural and Resource Economics (ABARE), earnings from the export of mineral and energy products jumped 17% to a record A$106.5bn in the year to June 30.
Nickel, zinc, gold, oil and iron ore exports stood out as the most lucrative during the last financial year, fuelled by high demand from China.
Uranium, lead, alumina, aluminum, LNG and copper export revenues also increased, helping to make up for a slide in coal prices where revenues fell 11% to A$15.1bn.
"This stronger performance reflects higher export prices for almost two-thirds of the minerals and energy commodities exported, along with increased export volumes for nearly three quarters of the commodities," ABARE executive director Phillip Glyde told Australia's News.com.au.
ABARE is due to release its 2007-08 forecasts on 24 September this year.
By Ozge Ibrahim
