Australia lowers estimates for ore and energy product exports in FY 2011-12

Australia's Bureau of Resources & Energy Economics has estimated that in the fiscal year 2011-12 (ends June 30, 2012) the value of Australia's ore and energy product exports will total A$214.8 billion (US$209.9 billion), down 1.6 percent compared with the estimate of A$218.3 billion (US$213.4 billion) made in June, due to global supply increase leading to a decline in commodity prices.
 
According to the new estimates, in FY 2011-12 Australia's iron ore export volume will rise 10 percent year on year to 449 million mt, up three percent on the June estimate, while the iron ore export value will increase by 26 percent year on year to A$68 billion (US$66.5 billion). In the same period, Australia's coking coal export volume is expected to rise by 11 percent year on year to 156 million mt, while the coking coal export value is expected to increase by 29 percent year on year to A$37 billion (US$36.2 billion).