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Australian commodity exports are predicted to rake in A$158.31 billion in the current fiscal year that started July 1, the Australian Bureau of Agricultural and Resource Economy said on Tuesday, down an annual 20 percent thanks to a global decline in commodity prices. Mineral exports were projected at A$123.46 billion, the data showed, down 23 percent on year.
Gold output for the 2008-09 fiscal year came in at 218 tons, down 5 percent. For 2009-10, gold output is expected to add 15 percent to 251 tons, the data showed, while copper output is forecast to climb 9 percent to 1 million tons.
ABARE also raised its forecast for the Australian dollar, putting it at AU$0.83 from the previous US$0.77. It also boosted its GDP forecast from -5 percent to +5 percent.
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