What happened
The Australian Government's latest Resources and Energy Quarterly forecasts resource export earnings to reach $422 billion in 2026–27, up from $403 billion in 2025–26, driven by elevated energy and gold prices amidst Middle East supply disruptions. Gold exports are projected at $68 billion, surpassing liquefied natural gas as Australia's second-largest export behind iron ore. Earnings are forecast to decline to $391 billion in 2027–28.
Why it matters here
Resource exports generate two-thirds of Australia's merchandise export value and account for 11 per cent of gross domestic product. While near-term global energy disruptions boost domestic export earnings, the official forecast foresees iron ore prices drifting down to US$82 a tonne in 2027 and US$64 a tonne in real terms by 2031, signaling future revenue headwinds for bulk miners.
What to watch
Track quarterly production updates from major iron ore producers and upcoming Middle East supply developments that could alter near-term energy and gold pricing.
Source
hellenicshippingnews.com