Mining turnover continues to rise in November

Media Release
Cite
Print
Released
23/01/2024
Source
Monthly Business Turnover Indicator, November 2023

Business turnover for the Mining industry rose for the fourth consecutive month in November (+4.9 per cent), according to figures released today by the Australian Bureau of Statistics (ABS).

Robert Ewing, ABS head of business statistics, said “Recent rises in Mining turnover were due to higher iron ore prices and renewed demand for coal."

“Ten of 13 industries had rises in business turnover in November. This included Arts and recreation services (+6.2 per cent), and Retail trade and Transport, postal and warehousing (both +1.0 per cent), as retailers and parcel delivery businesses benefitted from the Black Friday sales period.”

Compared to November 2022, 10 of the 13 industries included in the indicator rose. The industries that saw the biggest annual rises were Construction (+15.2 per cent), Accommodation and food services (+8.1 per cent), and Other services (+7.8 per cent).

Annually, the largest falls were in Mining (-8.7 per cent), and Electricity, gas, water and waste services (-3.9 per cent).

Media notes

  • All figures in this media release are in seasonally adjusted terms.
  • The Monthly Business Turnover Indicator is derived using Australian Taxation Office (ATO) Business Activity Statement (BAS) data from monthly remitters.
  • Monthly BAS reporting covers businesses with GST annual turnover of $20 million or more and a proportion of smaller businesses that report on a voluntary basis.
  • The indicator includes 13 of the 19 industry divisions classified according to the Australian and New Zealand Standard Industrial Classification (ANZSIC), 2006, and provides timely and frequent insights into economic activity, which complement the longstanding quarterly measures.
  • When reporting ABS data you must attribute the Australian Bureau of Statistics (or the ABS) as the source.
  • For media requests and interviews, contact the ABS Media Team via media@abs.gov.au (8.30am-5pm Mon-Fri).
  • Subscribe to our media release notification service to get notified of ABS media releases or publications upon their release.