Disliked{quote} Mate I aint trading AUD, but aint you concerned with that slumping Oil price? Last week I ve heard they closed another factory laying of 7K workers. Think Australia getting heavy hits. Thats why they tried to calm down investors last week with some positive consumer sentiment numbers, but think AUD not good long term investment.Ignored
Oil price reduction improves input costs for other mines, and also the Australian oil refineries.
Major exports are Iron Ore, Coal, Gold, Education, LNG.
Crude petroleum is ranked after these major exports, probably about 3% of total exports.
All exports are approx. 17%-20% of Aust's GDP.