Weakening dollar may benefit resources sector

A FALLING Australian dollar might give some breathing space to the national resources sector, even as major exports are struck by falling prices.

New figures from the Commonwealth's top industry experts - the Bureau of Resources and Energy Economics - suggest a weakening dollar could deliver an 11% increase in the value of Australian exports.

In its latest report released on Wednesday, BREE found that weakness could increase the value of Australian exports by $20.billion, from $177.billion this financial year, to $197.billion by mid-2014..

In the past three months, thermal coal prices fell from $98 per tonne in March to about $91 in June, the most significant price crash aside from gold and iron ore.

For the coming financial year, aluminium, uranium and gold are expected to fall, but liquefied natural gas or LNG, steel-making coal, and energy or thermal coal will make up for those losses.

BREE suggested "energy and mineral commodity exports are projects to remain robust, largely driven by significant increases in iron ore, coal and LNG exports".


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