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>The other thing to remember is that minerals dwarf all other parts of the Australian economy. Not so much. Certainly not in terms of employment or taxes. By a
by cam_l 7y ago
>The other thing to remember is that minerals dwarf all other parts of the Australian economy.
Not so much. Certainly not in terms of employment or taxes. By and large the profits flow overseas, and once you make this exception, minerals account for only around 8-15% (depending on who you believe) of the economy.. and falling.
And coal is only maybe a quarter of that. About the same as tourism, atually. And mining accounted for only around 3% of employment at the height of the boom (compared with 15%or so for tourism).
- schappim 7y ago>> Certainly not in terms of employment or taxes. You're right on both fronts, the mining companies are automating everything they can and whole political parties were formed to take an axe to the minerals resource rent tax! However in terms of exports, Minerals/Ores/Gems/Metals accounted for 64.4% of Australia's top 10 exports in 2018. Australia’s top 10 exports accounted about three-quarters (79.5%) of the overall value of its global shipments. [1]. [1] http://www.worldstopexports.com/australias-top-10-exports/ http://www.worldstopexports.com/australias-top-10-exports/