The Ministry of Industry, Australia announced that Iron Ore is the first Australian Commodity to break the $100 Billion a year mark in export value at the end of Financial Year (2019-20). In 2019-20 Iron Ore export figure clocked $101.70 Billion, breaking the $100 Billion mark.
This new export record was duly endorsed by the Australian Bureau of Statistics. As in 2019-20, the iron ore export figure significantly surpassed the earlier export $77.50 Billion, also set by Iron Ore commodity in the previous financial year. Western Australia Contributes to 98% iron ore production of entire Australia.