Australia expects extra US$26 billion from exports as Iran war lifts prices
Australia forecasts a A$38 billion (US$26 billion) lift in export income as commodity and energy prices rise because of the war in Iran. Resources exports are set to climb almost 3% to A$416 billion in the financial year through June 2027, the Department of Industry, Science and Resources said.
Australia expects a significant boost to its export income as commodity and energy prices climb because of the war in Iran. According to the country's Department of Industry, Science and Resources, the lift could reach A$38 billion (US$26 billion).
In its latest quarterly resources and energy report, the department said the nation's resources exports are set to rise almost 3% to A$416 billion in the financial year through June 2027. The forecasts assume trade remains disrupted until the end of June 2026.
A further A$7 billion windfall is possible if that disruption lasts longer. Analysts said higher commodity prices could support Australia's budget, but cautioned that swings in global demand and prices raise the risks around such projections, leaving the final figure uncertain.
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