Queensland exports continue to soar to new heights

The value of Queensland’s merchandise exports has risen again to a record of $73.8 billion dollars for the year to May 2018.

Premier and Minister for Trade Annastacia Palaszczuk said the increase of 19.2% over the year to the May quarter reflected strengths in both Queensland’s traditional strengths, as well as the growing global demand for renewable energy.

“In the May quarter 2018, Queensland’s coal exports topped $10 billion, reflecting the improvement in volumes from a year ago when disruptions following Severe Tropical Cyclone Debbie were at their greatest,” the Premier said.

“LNG exports increased by over half a billion dollars in the year to May 2018 to a total of $2.9 billion.

“In a pleasing sign for domestic supply, that increase reflected rising export prices rather than volumes, which have stabilised below capacity as more Queensland gas goes into the domestic market.

“We’ve also seen a $227 million annual rise in the value of mineral exports to almost $2.5 billion in the May quarter.

“Many of these metals that are in growing demand for the production of solar panels, wind turbines and large-scale batteries, as the growing demand for renewable energy continues.”

The Premier acknowledged that agricultural commodities had done it tough in recent months.

“While we’ve seen a rise in the value of meat exports, indications are that is due at least in part to some graziers destocking given prolonged drought conditions.

“The Indian Government’s decision to impose tariffs on chickpea imports in December 2017 has helped see the very rapid export growth of last year for that crop drop away.

“That’s why my Government is determined to keep aggressively pursuing new markets and opportunities for all our commodities.”

Media Contact: Geoff Breusch 0417 272 875