Latest trade data confirm the resilience of Australia’s resources sector with coal exports on the rise despite recent global challenges.
Minister for Resources, Water and Northern Australia Keith Pitt said the value of Australian coal exports in December increased by an impressive 26% from November.
“Coal was worth $3.7 billion to the Australian economy in December alone as exporters looked to fill gaps in international markets and made the most of the increase in thermal coal prices,” Minister Pitt said.
“In the middle of the northern hemisphere winter, it’s not surprising that thermal coal accounted for most of the increase to meet the demand from power utilities.
“Coal sales to Vietnam and India were stronger, reaffirming the competitiveness of Australian coal, and its reputation for high quality in global markets,” Minister Pitt said.
“This again reinforces the importance of coal as an Australian export commodity and that it will remain so for many more years to come.
“The trade data also confirms that despite the global challenges presented by the COVID-19 pandemic, Australian resources and energy exports were valued at a phenomenal $272.5 billion in the 12 months to December,” Minister Pitt said.
“The result is a great testament to the work of our resources industry to maintain full operations throughout 2020 as the coronavirus pandemic wreaked havoc on many other industry sectors across the world.”
“These results are also an encouraging sign that many countries are looking to resume industrial production as economies recover and that is good news for the Australian resources sector,” Minister Pitt said.
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