This result is contained in the March quarter Australian Mineral Statistics report, released today by Phillip Glyde, Executive Director of ABARE.

Iron ore and pellets had the largest decline in export earnings in the March quarter 2007, down $496 million (12 per cent) to $3.5 billion.

Other commodities that recorded significant falls in export earnings in the March quarter 2007 were: alumina, down $292 million (17 per cent) to $1.4 billion; zinc, down $225 million (18 per cent) to $1 billion; copper, down $176 million (10 per cent) to $1.5 billion; crude oil, down $147 million (7 per cent) to $1.9 billion; and LNG, down $130 million (9 per cent) to $1.3 billion.

"These decreased earnings mainly reflect decreased export volumes resulting from factors such as adverse weather conditions, unplanned downtime and maintenance," Mr Glyde said.

The index of export prices of Australian mineral resources (export unit returns) fell by less than 1 per cent in the March quarter 2007 compared with the previous quarter. However, compared with the March quarter 2006, the March quarter 2007 index was 6 per cent higher. Higher world prices for mineral commodities (up 21 per cent year on year), more than offset a decline in energy commodity prices (down 12 per cent).

Mr Glyde noted that export earnings for some major export commodities increased during the March quarter 2007. Earnings from refined gold were up $161 million
(7 per cent) to $2.5 billion; nickel, up $150 million (7 per cent) to $2.2 billion; aluminium, up $62 million (5 per cent) to $1.4 billion; lead, up $28 million (7 per cent) to $0.4 billion; and black steaming coal, up $9 million (1 per cent) to $1.7 billion.