Archived article

Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.

Commodity prices are to blame, particularly iron ore
Thursday 13 Jul 2017 Author: Daniel Coatsworth

Australia has slashed A$13bn from its expected export earnings in the current fiscal year as a result of lower commodity prices. Approximately half of this downgrade is down to iron ore where the country has reduced its forecast export earnings by A$7.2bn to $65bn.

Overall resource and energy export earnings have been revised down by 6% to A$202bn for the 2017/2018 fiscal year. Expected earnings are even lower for the following year at A$200bn. All the figures have come from Australia’s Department of Industry, Science and Innovation.

‹ Previous2017-07-13Next ›