Australian mining sets new trade record.
Australian Bureau of Statistics (ABS) trade data released on 4 July confirms that Australia’s resources industry continues to underpin job creation and national economic growth.
When mining is strong, Australia wins.
In May 2019, Australia’s world-class resources sector generated a record high AUS$24.9 billion in export earnings for the nation, or 60% of total export income.
This is also a record-breaking month for Australia iron ore exports, which accounted for AUS$8.8 billion in export earnings.
Other Australian minerals and metals exports including gold, copper and nickel contributed AUS$6.6 billion in earnings.
Resource exports will boost economic growth and continue to strengthen Australia’s fiscal position – delivering revenue to fund teachers, nurses, police, infrastructure projects and personal income tax cuts.