RTTNews - The value of Australia's commodity export earnings is forecast to fall 18.1% in 2009-10 to A$160.5 billion, a report by the Australian Bureau of Agricultural and Resource Economics or ABARE said Tuesday. This follows an estimated earning of A$195.9 billion in 2008-09.
Export earnings of farm commodities are forecast to rise 2% to A$32.5 billion in 2009-10 from an estimated A$31.8 billion in 2008-09, assuming a return to favorable seasonal conditions, ABARE said.
At the same time, the report said export earnings for energy are forecast to fall 34.1% to A$49.8 billion, while the export earnings for metals and other minerals are projected to decline 12% to A$74.6 billion in 2009-10.
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