“Australia’s export earnings from mineral resources were largely unchanged in the March quarter 2008 compared with the previous quarter. However, export earnings increased by 6 per cent compared with the March quarter 2007,” said ABARE’s acting Executive Director Karen Schneider.

Export volumes fell for some commodities because of a fall in production during the quarter as a result of seasonal heavy rain and cyclones.

“Particularly, diamonds, crude oil, natural gas and metallurgical coal were affected,” Ms Schneider said.

The index of energy export prices increased by 5 per cent, reflecting higher world energy prices, in particular for crude oil and spot thermal coal.

Ms Schneider noted increased export earnings for thermal coal, up $292 million (16 per cent) to $2.1 billion; refined gold, up $363 million (15 per cent) to $2.9 billion; copper, up $190 million (13 per cent) to $1.7 billion; nickel, up $132 million (10 per cent) to $1.5 billion; and iron ore and pellets, up $190 million (4 per cent) to $4.7 billion.

The index of export prices for metals and other minerals declined by 3 per cent, and lower export volumes contributed to a fall in export earnings for some commodities.

Export earnings declined for lead, down $288 million (43 per cent) to $387 million; uranium oxide, down $87 million (34 per cent) to $172 million; zinc, down $294 million (31 per cent) to $651 million; metallurgical coal, down $387 million (12 per cent) to $2.9 billion; and alumina, down $175 million (12 per cent) to $1.3 billion.