Australia Expects Resource Exports to Hit Record $182 Billion in 2018-2019

Ships waiting to be loaded are seen near piles of iron ore and bucket-wheel reclaimers at the Fortescue loading dock located at Port Hedland in the Pilbara region of Western Australia, on Dec. 3, 2013. David Gray/Reuters

MELBOURNE—Australia’s government expects the nation’s resource and energy exports to hit a record of A$252 billion ($182 billion) in 2018-2019, buoyed by climbing prices for commodities such as natural gas and by a weaker Australian dollar.

However, the country’s Department of Industry also said in a report that the value of such exports would edge back to around A$238 billion in 2019-2020 even as volumes rise again, pulled down as growing global supply and concerns over demand pressure prices. The figure for 2017-18 was A$227 billion ($163 billion).