Sponsored Links
Australia's commodity export earnings are forecast to drop 18% to A$163 billion in 2009-10, which is higher than the September estimate of A$158 billion the Australian Bureau of Agricultural and Resource Economics said Tuesday. In 2008-09, export earnings rose 33% to A$197 billion.
Farm exports are forecast to decline 6% to A$30 billion in 2009-10, after a significant rise of 16% to A$32 billion in 2008-09. ABARE lowered the farm exports estimate for 2009-10 from the A$31.1 billion forecast in September.
"The forecast decline in farm export earnings in 2009-10 mainly reflects the adverse effects of a significantly higher Australian exchange rate, especially against the US dollar, and a downward revision to winter crop production in the current season," said Terry Sheales, Deputy Executive Director, ABARE.
Energy and minerals exports are expected to fall by 20% to close to A$129 billion in 2009-10. This represents an upward revision from the A$123 billion forecast in September.
"The combined effect of lower bulk commodity contract prices, including for coal and iron ore, and an assumed stronger Australian dollar is expected to more than offset the positive effect on earnings of forecast higher export volumes in 2009-10," Sheales said.
Energy exports is forecast to decline 31% to around A$54 billion in 2009-10, while export earnings from metals and other minerals are expected to drop 10% to around A$75 billion in 2009-10. Australian mine production is forecast to rise 7% in 2009-10, with increases in both energy commodities and metals and other minerals outputs.
0 komentar:
Post a Comment