Australia's Bureau of Resources and Energy Economics (BREE) has announced that the value of Australia's resources and energy exports in 2011 increased by 15 percent to a record A$190 billion compared to the previous year.
BREE stated that the record export value of resources and energy indicates higher earnings for most resources and energy commodities, including iron ore and coal, as well as oil and base metals. In 2011, iron ore and metallurgical coal export earnings increased by 20 percent and six percent respectively, while iron and steel export earnings decreased by 22 percent, all compared to 2010.
According to the BREE report, the increase in iron ore production was supported by the commissioning of new capacity in the Pilbara region, Western Australia; however, coal production was negatively affected by flooding in Queensland in early 2011.