Minister for Resources and Water Keith Pitt says latest trade data confirms that coal leads the continued surge in Australia’s resources and energy export earnings.
The Australian Bureau of Statistics’ International Trade in Goods and Services data for January 2022 shows total resources and energy exports were worth $356.5 billion in the 12 months to January 2022, which was a 29 per cent increase on the previous 12 months.
Minister Pitt said Australia’s thriving resources sector continues to be a significant contributor to the strength of the national economy.
“Recent requests from Poland to Australia for coal from sources alternative to Russia show the world is increasingly looking to Australia for the resources needed to provide energy security,” Minister Pitt said.
“In uncertain times, our resources sector’s outstanding reputation as a leading and reliable supplier is providing stability here and abroad.
“Coal was a stand-out performer with $67.42 billion in total exports for the 12 months to January, up 60 per cent on the previous year.
“Total coal exports in the three months to January were $24.27 billion – a staggering 159 per cent increase on the same period a year earlier and 18 percent above the earnings for the three months to October 2021,” Minister Pitt said.
“Liquefied natural gas reached similar heights, with $52.85 billion in total export earnings for the 12 months to January, up 52 per cent on the previous year.
“The $18.64 billion earnings for the three months to January was 134 per cent up on the same period last year. It was also a 19 per cent increase on the three months to October 2021.”
Iron ore export earnings for the 12 months to January totalled $151.65 billion, which was 24 per cent up on the previous year. The $26.73 billion earnt for the three months to January was 19 per cent down on the previous three months to October 2021.
“Our resources and energy sector, Australia’s biggest export earner, continues to provide the backbone for a strong economy and importantly, create jobs particularly for regional Australians,” Minister Pitt said.
