May 08, 2019

Coal fuels bumper exports

Coal fuels bumper exports

Coal remains Queensland’s biggest export, making up 40 per cent of the State’s total exports as it continues to report trade records. 

The latest Australian Bureau of Statistics trade figures showed the value of exports rose 18.4 per cent to $84.3 billion for the 12 months to March 2019.

Premier Annastacia Palaszczuk said the value of Queensland’s merchandise exports over the year were larger than NSW and Victoria combined.

“This is another outstanding achievement for Queensland,” she said.

“Our commodities, from LNG to beef, are delivering valuable export dollars to Queensland and supporting thousands of jobs.”

The Premier said Queensland has now recorded 12 consecutive months of record annual totals.

But QRC chief executive Ian Macfarlane highlighted the role of coal in particular in achieving that run.

Coal exports contributed $36.3 billion – an increase of $5 billion or 16 per cent over the previous 12 months, he said.

In total, the resources sector made up $68.2 billion, which helped Queensland post a record $84.3 billion in exports until the end of March this year.

“Together with minerals, LNG, alumina and semi-soft coking metallurgical coal and PCI coal, the resource sector’s diversity story can cushion the economy against commodity fluctuations,” he said.

“For every $10 Queensland earns from exports, $8 is for our resource commodities and this will continue to grow with global growth.” 

He said Queensland coal was the commodity of choice for Asia and the State’s economy was benefiting from key trade links with growing economies. 

“Queensland has an advantage over other states with its close proximity to the economies of China, India and Japan. Every quarter we see export data repeating a common theme – the world needs our metallurgical coal to make steel needed for building modern cities and our high quality thermal coal is delivering tomorrow’s energy needs through high efficiency, low emission coal-fired power plants.”

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