Qld commodities help smash export earnings record

4 April 2022

Click here for photo of QRC Chief Executive Ian Macfarlane.

Click here for Australian Government media release.

 

The importance of the Queensland resources sector to the national economy has been highlighted again today, following the release of new national figures showing resources export values have surged to an unprecedented high of $425 billion.

Queensland Resources Council (QRC) Chief Executive Ian Macfarlane said the latest Resources and Energy Quarterly report showed commodity exports including Queensland’s strengths of coal, LNG, aluminium, alumina, bauxite, copper and zinc were all performing strongly. Coal joins iron ore as only the second Australian commodity to break the $100 billion export mark.

“Queensland’s resources and energy commodities are the powerhouse that is driving both the state’s economy and the national economy,” Mr Macfarlane said.

“Our resources are reaching record highs. We know that global events play a role in the value of Australia’s resources exports, but this latest record-smashing forecast of $425 billion in value for Australia’s resources and energy exports shows why continued development of the resources sector is in our national interest.

“Last week’s Federal Budget showed commodity prices were underpinning our national economic recovery. This latest report is another chapter in the incredible story of the Queensland resources sector.

“Our commodity exports reinforce our role as a trusted international partner, especially to support energy security in Europe. These sky-high export values also strengthen Australia’s national security by delivering jobs and economic returns and encouraging new investments in the resources projects that will keep Australia strong in the years ahead, including renewables, critical minerals and hydrogen.

“Queensland resources sector workforce have kept our economy going strong over the last two years, and the payoff from their hard work is delivering a better future for all Australians.”