Weak Aussie Dollar a Boon for Gas, Coal Exports: CCIQ

Thursday 1 November, 2018 | By: Dan Petrie

The Chamber of Commerce and Industry Queensland (CCIQ) has welcomed Australia’s A$3 billion surplus for September noting gains in the value of iron ore, coal and natural gas shipments leaving Australian ports over the third quarter.

CCIQ notes exports across goods and services increased by 1% to a seasonally adjusted $36.75 billion nationally while merchandise sales from Queensland moderated to $A7.04 billion driven by a fall in exports to China over the same period.

Beside the dollar, coal and natural gas prices remain the headline standouts for the state according to CCIQ Chief Economist, Dr Marcus Smith.

A lower Australian dollar coupled with a recent elevation in US prices for coal and gas in particular have provided a boost to the national figures.

“A positive fourth quarter in key agriculture sectors coupled with a pick up in levels of activity in China would augur well for the state,” Dr Smith said.    

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