Australia’s commodity export earnings are forecast to fall from last year’s record A$467-billion to A$400-billion in 2023–24, and A$352-billion by 2024–25, the Department of Industry, Science and Resources said this week. In the September edition of the Resources and Energy Quarterly (REQ), the Department noted that the global economic slowdown, including the sluggish rebound in the Chinese economy from Covid lockdowns, would cut resource and energy export earnings.
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