If you were wondering how much havoc Cyclone Debbie created for Queensland’s coal industry in April, this chart has the answer.
The ABS said that exports of coal, coke and briquettes fell by $2.521 billion to $3.087 billion, the largest one month decline for this category on record.
A lot of havoc, in other words.
It also largely explains why Australia’s trade surplus shrunk to just $555 million in April, some six times smaller than the level reported in March.
However, as the chart below from JP Morgan shows, Queensland coal shipments are now already starting to recover.