Australia export revenue to dip as iron ore and coal prices drop

SYDNEY: Australia’s commodity export earnings are set to contract over the next couple of years as the prices of iron ore, liquefied natural gas and coal slump, according to government forecasts.

Fewer supply disruptions and “relatively soft” global economic growth, together with an expected strengthening in the Australian dollar, will push down revenue, the Department of Industry, Science and Resources said in a quarterly report released yesterday.