Queensland Exports Falter in April as Iron Ore from WA Propels Australia to Trade Surplus: CCIQ

Thursday 6 June, 2019 | By: Dan Petrie

Media Release

Queensland Exports Falter in April as Iron Ore from WA Propels Australia to Trade Surplus: CCIQ

Australia has recorded its 16th consecutive monthly trade surplus totaling $4.871 billion in April as a record value of iron ore shipments out of Western Australia offset a fall in coal sales nationally leading to a $631 million fall in the overall value of Queensland exports to $6.5 billion according to data released by the Australian Bureau of Statistics (ABS).

The Chamber of Commerce and Industry Queensland (CCIQ) notes that despite some moderation in coal prices, stronger volumes have seen the value of coal exports on a monthly basis continues at a run-rate of approximately $6 billion per month over the year.

CCIQ Head of Media and Industry, Dan Petrie said activity in Queensland’s resources sector remains the key pillar for the state economy.

“The April data shows a softening in coal and natural gas exports, which has been offset by a record month for iron ore at 7.539 billion and a strengthening in other key exports such as oil.

“It is important to acknowledge that Western Australian and Queensland produce two-thirds of Australia’s merchandise export income which continues to effectively carry the day for the Australian economy where the income resources exports generate are at levels most countries around the world can only look at with a sense of envy.

“Queensland exports in services and high end products are also stronger and are performing incredibly well in a somewhat challenging environment,” Mr Petrie said.

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