Queensland’s exports defied the damage of Severe Tropical Cyclone Debbie to reach a new 12-month high.
Premier Annastacia Palaszczuk said the value of Queensland merchandise exports surged 32.2% – or an increase $15.5 billion – in the past year to be $63.4 billion in the 12 months to May 2017.
In the 12-month period until May 2015, total Queensland merchandise exports was $46.5 billion. The Palaszczuk Government was formed in February 2015.
“Queensland posted a record calendar for exports in 2016 with $52 billion. We are well on track to post another record this year,” she said.
“Overseas trade supports thousands of local jobs in key industries across Queensland.”
The Premier said growth had been across key markets including Queensland’s top three trading partners – China ($16.5 billion total exports, at an increase of 46%), Japan ($10 billion up 26%) and India ($8.5 billion up 61%).
“My Government’s $35 million Advancing Trade and Investment – Queensland Trade and Investment Strategy 2017-2022 is build on the state’s strong traditional industries and new and developing sectors to boost exports and generate new jobs.
“As part of my Government’s commitment to strengthening our trading performance has been for key Ministers to lead trade missions and opening doors for Queensland exporters and overseas investment into Queensland.”
Treasurer and Minister for Trade and Investment Curtis Pitt said a significant rise in the value of coal exports was the primary driver behind Queensland setting another record export total but exports of some agricultural commodities also rose in value.
“The significant rise was driven largely by an increase in the value of coal exports, primarily hard-coking coal, and to a lesser extent LNG exports.
“This was despite the impacts of TC Debbie which caused significant disruption to coal exports in the May quarter.
“While the volume of coal exports was down by an estimated 13.4 million tonnes compared to a year earlier, the nominal values were supported by a surge in coal prices.”
Mr Pitt said a number of agricultural exports rose in the May quarter compared with the same period last year.
“Crops exports increased $180 million over the year to May quarter 2017 to $474 million, driven largely by an increase in chickpea exports and to a lesser extent wheat,” he said.
“Cotton exports rose $61 million over the year to $188 million in the May quarter.
“The latest data also showed an increase of $385 million in mineral exports over the year to May quarter 2017, rising to $2.3 billion.
“There was a $172 million increase in the value of aluminium exports, particularly alumina,” Mr Pitt said.
He said the Palaszczuk Government aimed to build on the state’s current record export performance including through its Trade and Investment Strategy.
“We know the value of exports is counted in more than dollars,” he said.
“At present one in five jobs in our state is supported by exports, so as we buiold exports we can build jobs as well especially in regional communities,” he said.
Advancing Trade and Investment: Queensland Trade and Investment Strategy 2017–2022 initiatives
Developing future leaders
- Establish the Emerging International Business Leaders Program — enabling business professionals in SMEs to experience trade and investment in-market
- Implement a Queensland Trade and Investment International Internship Program — placing graduates in international Trade and Investment Queensland (TIQ) offices
Improving the client experience
- Establish a comprehensive case management service for exporters and investors — providing guidance from initial enquiry to successful resolution
- Establish industry-led international trade missions — supporting missions determined by business need
- Implement a Queensland Government Accreditation Program — supporting qualifying businesses by providing official accreditation for use in international markets
- Enable development of Queensland business consortia — providing a combined Queensland service offering to international markets
- Establish an International Business Advisory Circle to mentor Queensland SMEs with high growth potential — connecting successful Queensland and international exporters with SMEs that are ready to export
- Provide cross-border e-commerce training for SMEs — providing international e-commerce training so that SMEs can sell directly through online platforms
- Provide international market reports tailored to Queensland’s strengths — giving Queensland businesses deeper insight into emerging markets
Strengthening regional businesses and economies
- Step up our focus on the north of our state and the opportunities across Northern Australia
- Develop a comprehensive Memorandum of Understanding between the Queensland Government and the Local Government Association of Queensland — providing better coordination of trade and investment opportunities
- Develop Regional Trade and Investment Action Plans — enhancing support for Queensland’s regions through targeted plans
- Provide export and investment training for regional Queensland SMEs — funding business-oriented providers to deliver targeted training
- Boost the investment readiness of regional Queensland — promote and facilitate foreign investment in Queensland’s regions
Expanding our international presence
- Establish a new TIQ office in North America — promoting Queensland’s knowledge-based industries to the world
- Strengthen TIQ’s presence in Singapore — better servicing ASEAN nations
- Strengthen TIQ’s presence in Jakarta – strategically targeting a key growth market
- Develop country-specific trade and investment strategies — capitalising on Queensland strengths and specific market needs
- Conduct a comprehensive review of Queensland’s international operations — strategically matching Queensland’s current offerings to global growth markets
Promoting Queensland globally
- Develop a Queensland prospectus for international investors — showcasing Queensland’s investment opportunities
- Provide a better customer experience through enhanced digital services — including a refreshed TIQ website and updated online presence for TIQ’s international offices
- Implement Queensland showcase events in international markets — highlighting Queensland offerings