(EnergyAsia, March 14 2012, Wednesday) — Riding on Asia’s economic boom, Australia’s resources and energy export earnings rose 15% to a record A$190 billion in 2011, said the Bureau of Resources and Energy Economics (BREE). (US$1=A$0.93).

The main items of export include iron ore, coal, liquefied natural gas (LNG), oil and base metals. Iron ore export earnings showed the biggest increase of 20% to A$59.3 billion, followed by thermal coal’s 18% rise to A$15.6 billion, LNG’s 16% to A$11.1 billion, and metallurgical coal’s 6% to A$31.3 billion. Earnings from crude oil and other refinery feedstock exports rose 12% to A$12.3 billion.

Their increases more than offset declines in the export earnings of iron and steel (-22%), liquefied petroleum gas (-10%), and refined silver (39%).

“Increased iron ore production was underpinned by the start up of new capacity in the Pilbara region of Western Australia, while coal production was affected by flooding in Queensland in early 2011,” said Quentin Grafton, BREE’s executive director and chief economist.

As a result of floods and heavy rains in Queensland state from late 2010 to early 2011, BREE reported that Australia’s production of saleable black coal fell by 2% to 348 million tonnes while its export of metallurgical coal plunged 16% to 133 million tonnes. Nevertheless, the country’s export earnings for metallurgical coal increased by 6% to $31 billion as lower export volumes were offset by higher prices.

BREE said Australia’s thermal coal export earnings surged by 18% to A$16 billion thanks to higher prices and a 4% rise in volume to 148 million tonnes.