In the financial year 2016-17, Australia’s earnings from resource and energy exports are forecast to reach A$215 billion, increasing by 32 percent compared to FY 2015-16, while the value of Australia’s iron ore exports is forecast to total A$59.13 billion in FY 2021-22, down 3.8 percent compared to FY 2016-17 according to a report by the Australian Government Department of Industry and Science.
The value of Australia’s resources and energy export earnings in 2016–17 has been revised up by $12 billion since the December Resources and Energy Quarterly to $215 billion. The upward revision largely reflects the unexpected increase in the price of iron ore and the unexpected strength of thermal coal prices in the March quarter 2017
Australia’s iron ore export earnings are forecast to increase by 50 percent in 2016–17, to reach a three-year high of A$72 billion (2016–17 dollar value).
Growing supply, primarily from Australia and Brazil, is expected to steadily outpace demand growth over the rest of 2017. As a result, the price is projected decline to average US$55/mt (FOB Australian dollars) in the December 2017 quarter and US$51/mt in 2018.
Export values in 2018–19 and beyond are forecast to average $60 billion (2016–17 dollar value) a year, with prices projected to be weighed down by growing low-cost supply.
According to the report, in 2017 exports of Australian iron ore are forecast to grow to 876 million mt and in 2021 to 911 million mt.