Export earnings to hit record despite virus

Australia’s resource and energy export earnings are forecast to hit a record of $299 billion in 2019–2020 despite the impact of the coronavirus outbreak.

Australian Mining is reporting the new estimate, put forth by the Australian Department of Industry, Innovation and Science in the latest Resources and Energy Quarterly (REQ) indicates an increase of $18 billion in the commodity export value on 2018–2019.

The REQ covers a five-year outlook period, highlighting the long-term structural changes that affect global commodity markets including urbanisation, industrialisation and technological change.

This edition includes information on the impact of the coronavirus outbreak on the commodity outlook, which is predicted to fall largely in the first half of 2020.

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