Queensland Treasurer, Curtis Pitt, has announced that the state’s liquefied natural gas (LNG) exporters have shipped close to $1.4billion worth of liquefied natural gas in their first eight months.
Recent figures from the Australian Bureau of Statistics (ABS) showed the strength of the Queensland economy and the state’s newest major export industry.
According to ABS data released this week, LNG exports contributed to a 15.7 per cent increase in the nominal value of Queensland’s overseas merchandise exports in the August quarter, compared to the same period last year.
The growth was also driven by a 9.7 per cent increase in coal exports.
“The LNG industry has exported $1.38 billion worth of gas from January to August,” Mr Pitt said.
“And exports should ramp up further over the next year as all six LNG plants from three projects become fully operational.
“But the LNG industry isn’t our only bright spot, with other sectors of the economy also driving Queensland’s export growth.
“Beef exports increased by 33.4 per cent in the 12 months to the August quarter.
“Queensland’s crops exports also grew by $315 million, with grain sorghum exports $241 million higher over the year.”
Mr Pitt said with rising merchandise exports and a rebounding tourism sector, Queensland has all the right ingredients for growth.
“There’s never been a better time to do business in Queensland and exporters should be confident about our long-term economic prospects,” he said.