Australia’s Mineral, Energy Exports Drop 2% in Fourth Quarter

Mineral and energy exports from Australia, the world’s largest shipper of iron ore and coal, declined 2.1 percent in the fourth quarter, led by lower prices and volumes for iron and steel and liquefied petroleum gas.

Sales fell to A$51 billion ($54 billion) in the three months ended Dec. 31, from the revised A$52 billion in the September quarter, the Bureau of Resources and Energy Economics said in a report. Earnings reached a record A$190 billion in 2011, 15 percent higher than the previous year, it said.