| Commodity prices suffered their greatest fall in six years in 2014 and dealt a hit to the Australian economy, but there is scope for optimism. Multinational bank HSBC has calculated that commodity prices fell 30 per cent in 2014, with oil's plunge the biggest driver. The price falls are reducing Australia's export earnings by tens of billions of dollars.
The news is not all bad, with HSBC predicting a slight recovery this year for iron ore, the nation's most valuable export, and extra income from the ramp up in natural gas exports...............................................Full Article: Source
|