Queensland experiences record-breaking export boom

Trade figures for the 12 months to November 2018 show Queensland’s goods exports at $80.5 billion – a record 12-month total and 12.4 per cent higher than the $71.6 billion total for the same period a year earlier.

The November figure is also up from the $79.2 billion in the 12 months to October 2018.

The increase in Queensland’s merchandise exports value was driven by coal, liquefied natural gas (LNG), minerals and beef exports.

Acting Premier and Minister for Trade, Cameron Dick, said Queensland continues to export more goods than New South Wales and Victoria combined.

READ: Australian exporters reap benefits of free trade agreements

Export prices for Queensland’s two most valuable exports, coal and LNG, have increased markedly over the past two years, driving the total value of Queensland’s goods exports higher.

Coal exports rose $4.0 billion in the 12 months to November 2018, to $43.0 billion.

LNG exports increased by $3.7 billion in the 12 months to November 2018, to $13.1 billion, driven by an increase in prices.

Beef exports rose $710 million to $5.3 billion in the 12 months to November 2018. Dry weather conditions are encouraging graziers to unload cattle stock, driving increased beef export volumes.

Minerals exports increased $1.6 million in the 12 months to November 2018, to $10.4 billion, driven by increases in the value of mineral exports such as aluminium, zinc and lead.

China remains Queensland’s largest goods export market and this year marks 30 years of the Shanghai-Queensland Sister State agreement, demonstrating the durability of this partnership.

“Trade equals jobs and the Queensland government is working hard to build and strengthen Queensland’s trade relationships.

“This includes 15 offices around the world managed by our global business agency Trade and Investment Queensland,” said Dick.

“These figures show we are on track to keep growing exports for the benefit of all Queenslanders,” he said.

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