by Alan Thornhill
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.
Alan Thornhill is a parliamentary press gallery journalist.
Private Briefing is updated daily with Australian personal finance news, analysis, and commentary.
Friday December 13
The Dow Jones index falls 105 points to 15,739.
The $A drops to US 89.39US cents shortly after 8am, Sydney time
The Senate rises for the year, without passing government bills to abolish the carbon tax
Car industry workers’ plight to be high on the agenda, when the Prime Minister meets State premiers today
Australia’s unemployment rate rises slightly to 5.8 per cent in November 2013 (seasonally adjusted):ABS
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