Reported 5 days ago
Australia's mining and energy export earnings are expected to decline by 6% in the upcoming financial year, driven by falling iron ore prices influenced by lower U.S. dollar valuations. The government's forecast predicts profits will decrease from A$415 billion to A$387 billion, with modest earnings falls also anticipated over the next five years. Despite these challenges, iron ore will remain a dominant export, although recent data indicates a significant drop in exports to China.
Source: YAHOO