Palaszczuk Government trade push reaps export bonanza for Queensland

The Palaszczuk Government’s commitment to driving overseas trade and investment is already paying dividends for the Queensland economy with a $5.6 billion export boost last year.

Premier Annastacia Palaszczuk said the value of Queensland’s overseas merchandise exports rose to a four-year high of almost $50 billion in 2015.

Queensland’s merchandise exports returned $49.7 billion in 2015, driven by the new LNG industry and excellent results from Queensland’s rural sector.

“This is the best result since 2011 and a 12.6% increase on 2014,” the Premier said.

Ms Palaszczuk said Queensland’s export results were another indicator of the strengthening State economy with unemployment at two-year lows (5.9%), the highest business confidence in the country, the highest growth in building approvals and the highest forecast economic growth of any State (4%).

“The growth in exports shows that the Palaszczuk Government’s pro-business economic plan is helping create the right conditions for Queensland industry.

“The new LNG industry which started exporting this year is an industry encouraged and established under the previous Labor Government.

“It is now expected to become Queensland’s second-largest exporter.

“Even in the face of drought conditions affecting many producers Queensland’s beef industry had an incredible 18.6 per cent increase in the value of meat sales, exporting more than $5.5 billion worth.

“Exports of our crops, including sorghum, chickpeas and wheat, grew by $961 million to $1.7 billion, even in the face of serious drought across much of the State.

“Despite a drop in the price of coal and the pressures it places on our coal miners, their exports increased by $263 million to $23.7 billion thanks to a lower Australian dollar and a small increase in volume.”

The Premier said it was important for the Government and businesses to sell Queensland’s strengths overseas and capitalise on a more liberalized global trading environment through the finalization of major bi-lateral and multi-lateral free trade agreements, such as the Trans-Pacific Partnership agreement.

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