Commodity Rebound Forecast by Australia as Exports Resume Gains
- Iron ore, gas, uranium to drive export value gains from `17
- Government forecaster sees gains in iron ore prices to 2021
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The global commodity rout looks set to hit a bottom with Australia, a key bellwether for the resources industry, forecasting the value of its commodities exports will resume rising from the second half of 2016.
Export earnings will rise by almost a third to A$208 billion ($157 billion) by fiscal 2021, the government’s Department of Industry, Innovation and Science estimated Friday in a quarterly report, after tumbling to a third straight annual decline in the current fiscal year.