Australian Resources Exports Drive Record Trade Surplus

Australia has delivered a record full-year trade surplus of $49.9 billion off the back of impressive results from the nation’s resources sector.

The record export revenue can be attributed to record years for several commodities, including iron ore ($77 billion), coal ($69 billion), aluminium ($15.6 billion) and copper ($9.9 billion).

Iron ore was again Australia’s single largest export revenue for the year, while setting a new record for a single month of exports in June with $9.5 billion.

These results drove Australia’s resources sector to account for 58 per cent of the country’s total export revenue in 2018–2019.