Economy

Queensland Exporters Represent a Case Study in COVID Resilience

The June trade balance saw the Australia’s record its second largest trade surplus on record $8.2 billion as imports moderate and monthly exports of iron ore hover at $10 billion.

For Queensland exporters, the trade picture is largely masked by the coal exports out of the state where falls in the price of metallurgical (steel making coal) have seen the monthly commodity category fall below $80 billion for the 12 months to June.

However, the rural sector, most notably meat exports have increased by 15% with rural goods overall increasing by 10%.

It is important to note that increasingly Queensland is become a far more diversified exporter than a decade ago. 

Queensland’s advanced manufacturing sector has been one of the state’s quiet achievers over the last ten years.

It may surprise people to know that Queensland based food manufacturer, Frosty Boy is one of largest supplier of dessert based products into India.

Or the Gold Coast based manufacturer, Patriot Campers is one the of most dominant players in the lucrative outdoor vacation market. 

Trade data can often provide politicians with nice headlines when commodity prices are elevated but it is the story below the headline data where the real stories are. 

Source: Trade and Investment Queensland, August 2020