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Resources sector drives Queensland exports to new record

Queensland has produced another export record in the 12 months ending in April, with resource exports delivering more than $65 billion of the $85.2 billion.

Coal remains the state’s number one export and is growing, increasing by almost $4 billion to $36.5 billion in the 12 months ending in April and doubling over the last four years.

China was Queensland’s largest export destination over the period, with $28.5 billion – an increase of $7.1 billion from the year to April 2018.

Japan was the state’s second largest export destination with $12.2 billion, representing an increase of $372.9 million.

The state’s performance, which was particularly driven by the resources sector, contributed to Australia’s rise in total exports to $361.1 billion – representing a total increase of $52.9 billion or 17.2 per cent.

The Queensland Resources Council (QRC) praised the state’s contribution, saying it was a testament to the resources sector.

“When it comes to resources, whether its thermal or metallurgical coal, metals or gas, Queensland has what the world needs, it wants more of it and is prepared to pay more for it,” QRC chief executive Ian Macfarlane said.

“The importance of the resources sector to Queensland is why the QRC and staff from its member companies joined Mayors and other industries at the Queenslanders Unite rally in Brisbane yesterday.”

He said a strong resources sector strengthened Queensland, creating jobs, attracting investment in exploration and production, and paying more royalties and taxes to government.

“No one can take for granted the contribution the resources sector makes to their everyday lives,” he said

“Electricity in their homes, the gas in their kitchens for cooking and for hot water systems, coal and steel in their the cars and public transport to get them to and from school or work, the metals in their mobile phones, devices and appliances.” Read more…

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