Mine export surge holds up economy

Original article by Angela Macdonald-Smith, John Kehoe
The Australian Financial Review – Page: 1 & 4 : 29-Mar-21

The federal government expects the value of Australia’s resources and energy exports to top $296bn in 2020-21, after a record $291bn in the previous financial year. The surge in export earnings will be driven by iron ore; the Department of Industry, Science, Energy & Resources now expects iron ore earnings to total $136bn, compared with its forecast in December of $123bn for the financial year. However, exports of LNG, thermal coal and coking coal are forecast to be lower in 2020-21. The record resources and energy exports will boost the Budget bottom line, with the full-year deficit now expected to be $150bn.


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