Australia’s Mining, Energy Exports Expected To Decline Amid Global Trade Risks

Australia's mining and energy export revenues are projected to decline over the next two years due to global economic weakness, falling commodity prices, and rising trade barriers, with U.S. President Donald Trump's protectionist policies cited as a key source of uncertainty disrupting global trade and investment. Export earnings are forecast to drop from A$385 billion in 2024–25 to A$352 billion by 2026–27, with iron ore and liquefied natural gas revenues expected to fall due to increased global supply. Despite this, gold prices and export volumes are rising, positioning gold as Australia's third-largest export with projected earnings of A$56 billion next year. Additionally, exports of lithium and copper are expected to increase, helping to partially offset declines in other commodities. Resources Minister Madeleine King highlighted that gains in critical minerals are mitigating some impacts of weaker iron ore, coal, and gas prices amid an unusually uncertain global outlook. Overall, Australia's resource export sector faces significant challenges from both market conditions and trade policy uncertainties.