Australia raises forecast commodity export income for this year
Australia boosted its forecast for income from commodity exports for this year, but maintained its outlook for drops to continue until the end of this decade as lower global demand pushes prices down. Resource exports from the major supplier of iron ore, liquefied natural gas and coal are seen at A$387-billion ($243-billion) in the 12 months through June 2025, 4% higher than forecast three months ago but down almost 7% from a year earlier, the Department of Industry, Science and Resources said in a quarterly report on Monday. They are set to plummet further to A$343-billion in the period through June 2030.
Australia boosted its forecast for income from commodity exports for this year, but maintained its outlook for drops to continue until the end of this decade as lower global demand pushes prices down.
Resource exports from the major supplier of iron ore, liquefied natural gas and coal are seen at A$387-billion ($243-billion) in the 12 months through June 2025, 4% higher than forecast three months ago but down almost 7% from a year earlier, the Department of Industry, Science and Resources said in a quarterly report on Monday. They are set to plummet further to A$343-billion in the period through June 2030.
