Budget Paper No. 1: Budget Strategy and Outlook 2018-19 ...

An increase of US$10 per tonne FOB in the iron ore price results in an increase in nominal GDP of around $6.3 billion in 2019 20 and over $13 billion in 2020 21. Similarly, a decrease of US$10 per tonne FOB in the iron ore price results in a decrease in nominal GDP of an equivalent amount. ................
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