Australia cuts 2025 resource and energy export earnings forecast to A$372bn, a 10% decrease due to falling commodity prices and a stronger currency.
Australia has cut its resource and energy export earnings forecast for the year ending June 30, 2025, to A$372 billion ($256 billion), a 10% decrease. This drop is driven by falling commodity prices and a stronger currency. Key factors include a slowdown in China's property sector and decreased demand for iron ore. The government anticipates revenues will decline further to A$354 billion in 2026, with significant impacts on metals crucial for renewable energy.
September 29, 2024
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