Strong mining exports as investment fades

The mining investment boom may be fading fast, but the resources sector is still making a massive contribution to the Australian economy.

Resources and energy commodity export earnings are estimated to have increased 11 per cent in 2013/14 to $196 billion.

Despite falling commodity prices and a persistently strong dollar impacting on export values, the Bureau of Resources and Energy Economics expects earnings to rise to $201 billion in 2014/15.

The bureau says while there are indications of improvements in non-mining sectors of the economy, the mining sector remained the principal source of Australia's economic growth in the first three months of the year.

Iron ore export volumes were 27 per cent higher than a year earlier and the main driver of export growth.