Good times roll in the Sunshine State as export values surge

  • Posted 04 February, 2022
  • Media Releases

4 February

Last year’s national trade figures are out – and it’s great news for resource-rich Queensland.

According to the latest ABS data, in 2021 national resources and energy exports were up almost 30 percent on the previous year, setting a new Australian record of $348.9 billion.

Queensland Resources Council (QRC) Chief Executive Ian Macfarlane said the data showed national coal exports in the December quarter alone were valued at $23.8 billion, up almost 160 percent on the same quarter in 2020.

“LNG is a similar story, with exports in the December quarter valued at $18.3 billion, which is almost 150 percent higher than the same quarter the previous year,” he said.

Mr Macfarlane said the Queensland economy was the major beneficiary of a buoyant resources sector.

“Queensland Treasury figures show the total value of state exports rose by almost $16 billion last year to reach more than $79 billion,” he said.

“Around 80 percent (or $63 billion) of that amount comes directly from Queensland’s resources exports. Much of this growth was driven by coal, which is Queensland’s number one export and experienced a 45 percent (or $10.4 billion) increase in value over the past 12 months.

“That’s why it’s so important for our sector to get our response to climate change right – our industry supports the jobs of more than 420,000 people and 15,000-plus businesses around the state.

”We support our industry achieving net zero by 2050, and will be doing everything we can to lower our emissions and become more sustainable in the long-term using the best available technology.”

Mr Macfarlane said resources is by far Australia’s largest export earner, and the global outlook for coal, gas and metals is particularly strong.

“The latest forecasts estimate Australia’s resources and energy exports will reach almost $380 billion this financial year, which will be another record result if that happens,” he said.

“The good news for Queensland is that a draft Queensland Resources Industry Development Plan is now in its final consultation phase, and once released will guide our industry’s transition over the next 30 years to a sustainable and prosperous future.

“The QRC and other industry groups have been consulting with the State Government on this plan over the past 12 months, to work out how to support responsible growth in the resources sector and set our state up for environmentally sustainable prosperity.

“This includes supporting our current strengths like coal, gas, aluminium and copper, as well as the emerging export markets for hydrogen, ammonia and battery and new economy minerals which are also a key part of Queensland’s future.”