SYDNEY: Surging commodities prices saw the value of Australia's mining and energy exports jump 27 percent to a record Aus$175 billion (US$179 billion) in the 12 months to June, data showed Thursday.
Iron ore and steelmaking coal exports were the main drivers of the solid result, published by the Bureau of Resource and Energy Economics, increasing 56 percent and 19 percent respectively to Aus$54 billion and Aus$29.1 billion.
"The record level of resource and energy export earnings in 2010-11 reflects higher prices for the majority of commodities important to the Australian mining industry including coal, iron ore, crude oil, (liquefied natural gas), gold and base metals," said the bureau's chief Quentin Grafton.
Metal and other mineral prices jumped 29 percent in the year, while energy commodities were 21 percent higher.
Production increased only marginally overall, with boosts to iron ore, gold and base metal output offset by a drop in coal due to unprecedented flooding in northern Queensland in January.
The rallying Australian dollar, which traded at an average 99 US cents over the year -- a 13 percent premium on 2009-10 -- also undermined the result, Grafton said.
Mining exports to industrialising Asian nations, chiefly China, helped Australia weather the global crisis without entering recession and have sent its export values rocketing to record highs.
Liquefied natural gas exports were up 34 percent at Aus$10.5 billion, copper was 29 percent higher at Aus$8.4 billion, crude oil grew 24 percent to Aus$11.8 billion and energy coal increased 17 percent to Aus$14 billion.
Refined silver, uranium oxide, liquefied petroleum gas and petroleum refinery products all recorded falls in export value.
Copyright AFP (Agence France-Presse), 2011
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