Coal has propelled the value of Queensland’s exports

Coal has propelled the value of Queensland’s exports to almost $80 billion, up almost 10 per cent from October last year.

The latest figures from the ABS showed coal recorded the highest increase in value during October, for the 23rd month in a row.

Queensland Resources Council Chief Executive Ian Macfarlane said for the last two years, coal exports have been the anchor for Queensland’s strong export performance.

“Of Queensland’s total export value of $79.3 billion in October, our coal exports were worth $34.9 billion, and other minerals $8.1 billion. The ongoing strength of the resources sector is testament to the hard work and world-class standards of the 316,000 Queenslanders who work in or with the sector.

“Every tonne of coal and other resources exported brings in royalty taxes that benefit all Queenslanders.

“Based on this strong performance we expect an even greater return to Queenslanders from coal royalty taxes, above and beyond the $3.5 billion forecast for this year’s budget.

“We look forward to seeing the updated figures before Christmas.

“Queensland’s resources industry is capping off a positive year, during which we’ve seen new investments and new jobs.

“Over the past year the resources industry has added about 10,000 jobs for Queensland, or a job every 40 minutes.

“We are looking forward to a strong start to the new year too, with new projects including the Adani Carmichael mine, and new exploration in the North-West of the state.

“Figures released by the Queensland Exploration Council earlier this week showed an increase in exploration investment across the range of our state’s commodities.

“This puts all Queenslanders in prime position to continue to benefit from investment, jobs and returns from royalty taxes that build our state.”