Queensland Coal Exports Boost Australian Trade Surplus in October: CCIQ

Thursday 6 December, 2018 | By: Dan Petrie

Queensland coal exports helped underpinned Australia’s $2.3 billion surplus for October according data released by the Australian Bureau of Statistics (ABS) as demand from Asia helped drive what is a traditionally strong quarter for coal and iron ore sales from Queensland and Western Australia respectively. 

The Chamber of Commerce and Industry Queensland (CCIQ) notes that metallurgical (steel making) coal typically accounts for more than half of Australia coal sales valued at $A6.04 billion in October whilst the value of natural gas exports topped $4.47 billion over the same period.

CCIQ Head of Media and Industry, Dan Petrie said activity in Queensland’s resources sector has been steadily improving with export volumes of coal and gas sales particularly strong.  

“It is sometimes easy to get caught up in the headline numbers associated with resources exports but in terms of royalties and the flow on effect to small business it should not be underestimated.

“There has been a considerable level of noise in media reporting about trade wars but in terms of actual numbers, Queensland exports in this regard are performing incredibly well,” Mr Petrie said.

In an analysis of the ABS data total merchandise exports from Queensland totalled 7.46 billion; the second highest on record according to CCIQ.  

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    Exchange Balance = Total Value of Exports - Total Value of Imports
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