- CNTV English - CCTV News

Homepage > News > Biz >

Price gains help boost export: Australian treasurer

06-11-2010 17:59 BJT

CANBERRA, June 11 (Xinhua) -- Australian Treasurer Wayne Swan on Friday said further price gains in bulk commodities such as iron ore and coal will help boost export earnings by 50 billion dollars (42.3 billion U.S. dollars) in the coming financial year.

Addressing a conference in Brisbane, Swan said contract iron ore prices in the current quarter had doubled from a year ago and coal prices had also risen substantially.

"We've already seen big increases in prices for key commodity resource over the past five years, and further rises are in prospect," Swan told the Australia India Business Council National Conference in Brisbane.

As a result, Australia's terms of trade were likely to exceed the peaks seen in 2008.

"And that means a big boost to export earnings, which is expected to increase by almost 50 billion dollars (42.3 billion U. S. dollars) in the coming financial year," Swan told Australian Associated Press.

Swan noted that India had posted "remarkable" 8.6 percent growth in the year to March, alongside China's 11.9 percent economic expansion in the same period.

He said India has become Australia's third largest export destination and one of Australia's fastest growing major export markets, having tripled in the last five years.

"The International Monetary Fund (IMF) projects that by 2015 India will receive more than one-tenth of Australia's merchandise exports," the treasurer said.

Editor:Du Xiaodan |Source: Xinhua

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program