DIIS Projects Optimistic Export Earnings for 2019-20; However, Slashes 2020-21 Earning Forecasts

  • Oct 20, 2019 AEDT
  • Team Kalkine

The Department of Industry, Innovation and Science (or DIIS) anticipates Australia’s resource and energy export earnings to hit a new record of $282 billion in 2019-20, despite higher volatility in the commodity markets.

  • The higher export volume and depreciated currency to support the export earnings;
  • The status of the world’s second-largest gold producer amid lower economic confidence to likely help Australia;
  • DIIS estimates the 2020–21 earnings to fall to $258 billion (previous forecast $261 billion) amid a rising exchange rate, slowing industrial production, and the steady return of Brazilian iron ore production to normal after supply disruptions.

 

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