Australia energy resources drive $180 billion in export earnings

Australia’s energy resources sector generated $180 billion in export earnings during 2023-24, representing approximately 27 per cent of the nation’s total export earnings, according to Geoscience Australia. The country ranked as the eighth-highest primary energy producer globally in 2024, contributing 2.7 per cent of global energy commodity production.

Australia maintains a significant role in global markets as the second-largest coal exporter, the third-largest liquefied natural gas (LNG) exporter, and the fourth-largest uranium producer. The nation holds one-third of the world's known uranium resources and exports roughly eight times more energy than it imports.

Data from the Energy Institute’s “Statistical Review of World Energy” for 2025 highlights a heavy reliance on fossil fuels within Australia, where oil, gas, and coal combined account for 92 per cent of the energy supply. While Australia possesses vast uranium reserves and is pursuing nuclear-powered submarines, its current domestic nuclear energy contribution remains at nil.

Investment in energy exploration grew by 25 per cent in 2024, totaling $1.81 billion. Additionally, 24 major energy projects worth over $42 billion have reached the committed stage. Efforts toward low-carbon resources are also expanding, with carbon capture and storage (CCS) and hydrogen projects moving through various stages of development.