Gold has become Australia’s second-largest resource export for the first time in more than six decades, highlighting the growing economic importance of the nation’s gold mining industry.
According to the June 2026 Resources and Energy Quarterly from the Department of Industry, Science and Resources, Australian gold generated $68.4 billion in export earnings during the 2025–26 financial year, trailing only iron ore at $116.6 billion while surpassing the combined value of coal ($67.6 billion) and liquefied natural gas ($59.4 billion).
The result marks the first time gold has ranked as Australia’s second-largest resource export since the early 1960s, aside from a brief resurgence in 1987.
The report forecasts gold export earnings will continue to climb to $73.1 billion in 2026–27, remaining ahead of the combined value of coal exports at $69.8 billion and narrowing the gap with iron ore, which is expected to generate $107.7 billion.
The World Gold Council said the milestone reinforces Australia’s position as one of the world’s leading gold producers and reflects the industry’s enduring contribution to the national economy.
“Gold has long been a major part of Australia’s economic story, but its rise to the second-largest resource export underscores just how important the sector remains today,” World Gold Council head of Asia-Pacific excluding China and global head of central banks Shaokai Fan said.
“Australia is the world’s third-largest gold producer behind China and Russia, globally recognised for its technical expertise, strong governance and responsible mining practices.”
Fan said while strong demand and higher gold prices had lifted export earnings, Australia’s success was underpinned by world-class geology, mining capability, capital markets, skilled workers and a stable regulatory environment.
“Australia has established itself as a benchmark for how a modern gold industry can create value through exports and investment as well as through jobs, local procurement, government revenues and support for regional communities,” he said.
The World Gold Council also pointed to the sector’s broader economic contribution. Data released last year showed member companies contributed almost $US7.9 billion in direct in-country payments during 2024, including $US5.6 billion to Australian suppliers, $US1.2 billion to governments and $US1.1 billion to nearly 15,000 employees and contractors. Annual community investments totalled $US30 million.
Fan said continued collaboration between industry, governments and stakeholders would help maintain confidence in the global gold value chain, positioning Australia to benefit as investors and institutions increasingly seek resilient and trusted sources of economic growth.
