Queensland exports continue to boom

Queensland has set another trade record.

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, LNG, minerals and beef exports.

Acting Premier and Minister for Trade Cameron Dick said the strong growth of exports in November was excellent news to start 2019.

“Queensland continues to export more goods than New South Wales and Victoria combined,” Minister Dick said.

Export prices for Queensland’s two most valuable exports, coal and liquefied natural gas (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.

Mr Dick said since the Government was elected in January 2015, exports had increased by 81.3 per cent.

“Trade equals jobs and the Queensland Government is working hard to build and strengthen Queensland’s trade relationships,” Minister Dick said.

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

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

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