CANBERRA, Sept. 15 (Xinhua) -- The value of Australia's resource and energy exports hit a record high of 178.7 billion U.S. dollars in the year to June, latest data showed on Thursday.
The Bureau of Resources and Energy released the figures showing exports jumped 27 percent compared to the previous year.
"The record level of resource and energy export earnings in 2010-2011 reflects higher prices for the majority of commodities important to the Australian mining industry, including coal, iron ore, crude oil, liquefied natural gas, gold and base metals," the bureau's chief economist, Quentin Grafton, said in the statement released on Thursday. "Mine production for iron ore, gold and base metals increased."
The figures showed iron ore saw the greatest rise in export earnings, up 56 percent to 55 billion U.S. dollars. Metallurgical coal was the country's second biggest earner, netting 29.6 billion U.S. dollars
There were some falls in export earnings for certain commodities in 2010/11 from a year earlier, including a 35 percent drop in refined silver, and a 19 percent decline in uranium oxide earnings.
Federal Resources and Energy Minister Martin Ferguson said the data underscored the importance of the resources and energy sectors to the economy.
"Australia's economy is incredibly strong and the contribution that investment in the resources and energy sectors makes to our national prosperity should not be underestimated," Ferguson said in statement released on Thursday.
Meanwhile, Prime Minister Julia Gillard met with key players within the resources industry on Thursday. She told the Resources Advisory Council the industry was enjoying "spectacular growth".
"It is an opportunity to engage in collaborative work and discussion to make sure ... the resources boom is sustained over a long period of time and that we maximize the returns of that boom, " she said.
The increase in export values was partially offset by appreciation of the Australian dollar, which averaged 99 U.S. cents in 2010/11, 13 percent higher than a year before.