Iron-ore and metallurgical price increases, which gave Australia’s resource and energy export earnings a 25% lift in 2016/17, are unlikely to last, resulting in the Office of the Chief Economist forecasting lower export earnings for the next two years.
Resource and energy export earnings are estimated to have reached A$205-billion in 2016/17, but will decline to A$202-billion in 2017/18, and to A$200-billion in 2018/19.
