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Higher Australian dollar hurts commodity export earnings

Posted on 15 December 2009

From Theajmonline.com.au: Earnings from energy and minerals exports are forecast to fall by 20 per cent to close to $129 billion in 2009-10, according to the latest report from the Bureau of Agricultural & Resource Economics (ABARE).
“The combined effect of lower bulk commodity contract prices, including for coal and iron ore, and an assumed stronger Australian dollar is expected to more than offset the positive effect on earnings of forecast higher export volumes in 2009-10,” said Dr Terry Sheales, deputy executive director, ABARE……………………………….Full Article: Source

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