Australian Bureau of Statistics (ABS) trade data released today confirms that Australia’s resources industry continues to underpin job creation and national economic growth.
When mining is strong, Australia wins.
In May 2019, Australia’s world-class resources sector generated a record high $24.9 billion in export earnings for the nation, or 60 per cent of total export income.
This is also a record-breaking month for Australia iron ore exports, which accounted for $8.8 billion in export earnings.
Other Australian minerals and metals exports including gold, copper and nickel contributed $6.6 billion in earnings.
Resource exports will boost economic growth and continue to strengthen Australia’s fiscal position – delivering revenue to fund teachers, nurses, police, infrastructure projects and personal income tax cuts.