Текст 8.

OVERSEAS MERCHANDISE EXPORTS: QUEENSLAND, AUATRALIA

The nominal value of Queensland’s overseas merchandise exports rose by a substantial 59.7% in 2008-09. With the volume of overseas exports of goods rising only 3.8% in the year, the rise in the nominal value of exports was driven almost entirely by higher prices received for Queensland coal exports, as well as a depreciation in the A$ (from $US0.90 in 2007-08 to $US0.75 in 2008-09). These factors more than offset the negative impact of the global economic downturn on other export categories, particularly base metals.

• The nominal value of Queensland’s crude minerals exports rose 89.5% in 2008-09, to total $33.1 billion. Coal accounted for the majority of this category, and over half of the total value of Queensland’s merchandise exports in 2008-09. In Japanese Fiscal Year 2008-09 (April 2008 to March 2009), contract prices for hard coking and semi-soft coking coal more than tripled and prices for thermal coal doubled. In addition to substantially higher prices, the volume of Queensland coal exports also rose in 2008-09, supported considerably by unprecedented demand from China in the second half of the year. The volume of Queensland hard coking and thermal coal exports to China totaled 12.0 million tonnes in the first six months of 2009, compared with 0.8 million tonnes in the same period a year earlier. The rise in coal export volumes to China more than offset a large fall in demand from other major coal buyers in the year.

• In 2008-09, the nominal value of Queensland’s rural exports rose 23.4%, to total $6.3 billion. This increase was driven by a 12.0% rise in the value of meat exports and a 101.2% rise in cereals and cereal preparations. However, stronger meat export values largely reflected higher export prices. The volume of beef exports (which account for the majority of meat exports from Queensland) rose by a more modest 2.8% in the year. Strong demand from the US for lower-grade manufacturing beef saw export tonnages to the US rise 12.8%, while a more competitive A$ helped exports to Japan (the State’s largest export destination) increase 2.1%. In contrast, exports to South Korea fell 25.7%, following the removal of a ban on US imports into Korea. The value of cotton lint exports increased 47.9% in 2008-09, following large falls in 2007-08, with production benefiting from improved rainfall in particular. Sugar exporters benefited from the world raw sugar price approaching a record high over 2008-09.

• The nominal value of processed minerals and metals exports fell 17.0% in 2008-09, to $3.6 billion. The majority of the fall was driven by a 17.2% decline in non-ferrous metals, to $3.3 billion. This reflected lower industrial production, which weighed on base metals prices in 2008-09. The world prices of aluminium (down 29.8%), copper (down 36.5%), nickel (down 53.3%), lead (down 49.8%) and zinc (down 46.1%) were all much lower in the year. Further, output was affected as many mining companies responded to the weaker global environment and increased funding constraints by scaling back production.

Asian markets remained Queensland’s most important export destinations in 2008-09, with the top destination being Japan (accounting for 29.5% of total exports by value), followed by India (11.8%), South Korea (11.3%), China (9.3%) and Taiwan (5.8%).

www.treasury.qld.gov.au.