It is reported that billions of export dollars look set to keep rolling in at a healthy clip this financial year, despite an uncertain global backdrop.

Australia resource and energy exports are still expected to rake in a record AUD 206 billion in 2011-12 a 15% increase on the previous year. This is even after the federal government Bureau of Resources and Energy Economics downgraded the projection by 4% in the past three months because of rising risks to global growth.

Mr Quentin Grafton BREE executive director and chief economist issued the bureau December quarter report recently said ''Despite the uncertainty surrounding the outlook for some of the European economies, Australia export volumes for most commodities have remained strong in the second half of 2011 while prices for many commodities have remained at historically high levels.”

At the same time, the government commodity forecaster, the Australian Bureau of Agricultural and Resource Economics and Sciences expects farm exports to be USD 34.5billion in 2011-12 a 6% increase compared to a year earlier. Including fisheries and forestry exports, that forecast stretches to USD 38.4billion.

Mr Terry Sheales ABARES acting deputy executive director said although OECD economic growth was set to slow considerably, demand for agricultural products in the Asian region was expected to remain strong.

He said that ''Australia exported more than 60% of its farm exports to the Asian region in 2010-11.”

Among the biggest expected export increases this year are a 210% spike in rice a 65% jump in raw cotton and a 21% rise in canola.

(Sourced from www.canberratimes.com.au)