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The Mining industry contracted across most key indicators in 2014-15. Industry value added decreased 7.4% ($9.4b) to $118.3b in 2014-15, with the largest decrease in the Metal ore mining subdivision (12.9% or $9b), related to falling commodity prices.
The Mining division Export Price Index fell 21% between 2013-14 and 2014-15, driven by falling prices for high quality metallurgical coal, thermal coal and iron ore, and impacting on sales and service income and industry value added (IVA). Employment and wage growth also decreased over this period.
Footnote(s): (a) Includes rent, leasing and hiring income. (b) Includes capitalised wages and salaries, salary sacrificed amounts and other remuneration; excludes the drawings of working proprietors. (c) Includes working proprietors and partners of unincorporated businesses.
Source(s): Australian Industry (cat. no. 8155.0)
SALES AND SERVICE INCOME
Sales and service income in the Mining industry decreased by 3.9% (or $8.5b) to $211.9b between 2013-14 and 2014-15, with most of this decrease coming from Metal ore mining ($6.3b or 5.8%). For further information see the Metal ore mining page in this issue.
INDUSTRY VALUE ADDED (IVA)
IVA for the Mining industry fell by 7.4% ($9.4b) during 2014-15, with most of the decrease coming from Metal ore mining ($9b or 12.9%) and was related to the fall in iron ore prices.
EMPLOYMENT AT END JUNE
Structural changes as a result of the contraction of the Mining industry have continued to dampen employment demand. Employment fell 6.9% in 2014-15 (12,806 people), and the decline was reflected across most components of the Mining industry, although the biggest decrease was seen in Exploration and other mining support services (8,396 people or 19.3%).
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