Australia's mineral and gas exports to drop $100 billion

The value of Australia's annual mineral and gas exports is expected to plunge by more than $100 billion over the next 18 months, according to new government forecasts.

This will pressure the federal budget, which has just posted a record surplus, the first in 15 years.

The commodities boom is one of the key reasons for that budget surplus in the first place.

But these figures certainly suggest that this cycle is coming to an end.

This has led to Resources Minister Madeleine King essentially launching a strident economic defence of using gas in the nation's energy mix.

[midnightteapot]

Never has there been a country on earth blessed with so much opportunity that has been utterly ruined by so many idiotic politicians.

[truefactjack]

Don't forget if the voice wins they need a cut of G.D.P As well as repo reparations for eternity vote no save Australia🇦🇺

[gerrycooper]

So how are we going to keep paying for grifts like the NDIS?

[abbeystump]

drop $100 billion then how do we pay for Chinese Solar panels and Windmills? Great future Albo.

[winstonsmith]

The Government seems to want Poverty for Australians except for the establishment.

[dfor]

Most of the export contracts are in US dollars and the fall in value of the Australian dollar should be a cause for a rise in the value of exports. The fact that the value has fallen in the face of a falling aussie dollar means the real fall in value is masked. The Australian economy could be in real trouble soon despite this transient surplus.

[robertnicholson]

Here is your Albanese Labor Government at they can make a mess of it they will and they have !

[paulp]

No problem, labor will just bleed the working people dry …..

[mickoz]

That's ok, we can just export renewable energy....Oh wait.... no....

[tomjones]

Albo-sleezy is crying no 10% for himself lol 😂 🤣 🤣

[paddynelson]

Losing a hundred bullion dollars is probably good for the economy. Politicians alWays know what they are doing.

[davidpearn]

It's just the start wait another 2 years 😱

[bulthaosen]

I mean using a boom as a baseline should not have been done in the first place isn't it? Isn't that how it works?

[jefftysoutube]

$100 billion - that's only 2 AUKUS Subs and some change left over.
Would China even notice 2 less nuclear powered conventional armed subs cruising the West Philippine Sea?

[adrianjohn.]

Thanx for everything Laura for being very lubly🐾

[dimitzvonmelbourne]

Welcome to high inflation, lower living standards and higher deficits.
🦘 🇦🇺