Primary exports soar

Australia’s exports of  primary products hit a record $196 billion for the year last year,  the Department of Foreign Affairs and Trade says.

That was  a rise of 18.1 per cent – or $30.1 billion – over the previous year.

The Department says this growth underpinned Australia’s record exports of goods and services in 2011, which rose by 10.2 per cent, to $313.3 billion.

It says the growth in primary products exports was widespread.

” Exports of unprocessed food were particularly strong, rising 36.1 per cent to $12.8 billion in 2011.

“With strong price and volume growth, wheat, barley and other cereal grain exports were up by 49.4 per cent to a record $7.6 billion,” the Department said.

Processed food exports – such as meat and vegetable preparations, dairy and wine – rose 3.9 per cent to $15.3 billion, with exports of meat and meat preparations rising by 6.3 per cent to $7.1 billion.

Mineral exports rose 24.6 per cent to $86.7 billion in 2011. Within this, iron ore exports grew by 29.8 per cent to reach $64.1 billion, reflecting increased demand and higher prices.

Coal, gas and other fuel exports rose 10.3 per cent to $73.5 billion.

Coal exports alone were up 8.8 per cent to $46.8 billion and petroleum gases rose by 14.8 per cent to $12 billion.

Driven by higher exports of wool and cotton, exports of textile fibres rose 64.7 per cent to $5.4 billion, leading to an overall rise in ‘other primary products’ by 37 per cent to $7.8 billion.

The figures were released in Trade in Primary and Manufactured Products 2011, part of a series  the Department publishes each year.