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Limited prospects for price recovery in Australia’s export commodities – govt economist

Australia’s resources and energy commodity export earnings are forecast to decline by 4% in 2015/16 to A$166-billion, owing to weaker commodity prices.

Department of Industry, Innovation and Science chief economist Mark Cully said in the December issue of the Resources and Energy Quarterly that weak market conditions were forecast to persist over the short term and that the prospect of any significant recovery in prices for Australia’s resources and energy export commodities in 2016 was limited.