25 Jun 2014
BREE: Further evidence of a transition from Australia's investment phase of the mining boom to production phase
FXStreet (Bali) - According to a quarterly report published by Australia’s Bureau of Resources and Energy Economics (BREE), and titled “Resources and energy quarterly–June 2014″, there is further evidence of a transition from investment phase of the mining boom to production phase.
The report notes: "Australia’s resources and energy commodity export earnings are estimated to have increased 11 per cent in 2013-14 to total $196 billion. In 2014-15, Australia’s mineral and energy commodity export earnings are forecast to increase 2.6 per cent and to total $201 billion."
Wayne Calder, Deputy Executive Director of BREE, said:
“Throughout 2013-14 the production of key resources and energy commodities has increased, supported by continuing demand growth in key markets”
“While there are indications of improvements in non-mining sectors of the economy, the mining sector remained the principal source of Australia’s economic growth in the March quarter 2014."
"In seasonally adjusted terms, mining industry gross value added increased 8.6 per cent and was by far the largest contributor to GDP growth in the quarter.Iron ore export volumes have been the main driver of this growth and were 27 per cent higher year on year”.
“Looking forward, price pressures will continue to impact of domestic producers in 2014-15 with falling commodity prices and a persistently strong dollar impacting on export values. This will draw a sharp focus towards managing costs and enhancing productivity in the sector.”
The report notes: "Australia’s resources and energy commodity export earnings are estimated to have increased 11 per cent in 2013-14 to total $196 billion. In 2014-15, Australia’s mineral and energy commodity export earnings are forecast to increase 2.6 per cent and to total $201 billion."
Wayne Calder, Deputy Executive Director of BREE, said:
“Throughout 2013-14 the production of key resources and energy commodities has increased, supported by continuing demand growth in key markets”
“While there are indications of improvements in non-mining sectors of the economy, the mining sector remained the principal source of Australia’s economic growth in the March quarter 2014."
"In seasonally adjusted terms, mining industry gross value added increased 8.6 per cent and was by far the largest contributor to GDP growth in the quarter.Iron ore export volumes have been the main driver of this growth and were 27 per cent higher year on year”.
“Looking forward, price pressures will continue to impact of domestic producers in 2014-15 with falling commodity prices and a persistently strong dollar impacting on export values. This will draw a sharp focus towards managing costs and enhancing productivity in the sector.”