The Australian Bureau of Agricultural and Resource Economics (ABARE) reported on Tuesday that the nation's commodity export earnings would increase by up to 23 percent to $202.5 billion in 2010/11 as compared to last year's forecast of $164.1 billion.

ABARE deputy executive director Paul Morris said that with regards to sustained recovery of the global economy, "we are expecting growth in export earnings from the farm sector as well as the minerals and energy sector in 2010/11."

The report said that the value of farm exports are seen to increase by 2.5 percent to $29.1 billion in 2010/11, coming from an estimated 11.6 percent slid to $28.3 billion in 2009/10 while crop earnings should be mostly steady for 2010/11 at $14.6 billion though livestock exports are predicted to jump by 6.2 percent to $14.4 billion.

It also identified agricultural commodities exports that are poised to advance in the next financial year. They include canola, raw cotton, wine, wool, beef, veal and mutton.

The same report said that profits from energy and minerals exports would spike by 28.5 percent to $169.8 billion in 2010/11, improving from the estimated $132.2 billion in 2009/10.

Mr Morris said that the estimated earnings increase from energy and minerals exports in 2010/11 were brought about by substantial gains in recently negotiated contract prices for coal and iron ore and the projected better export shipments.

The ABARE report said that export earnings for metals and other minerals would increase by 29 percent to $98.5 billion in 2010/11, with the value of energy exports also set to be lifted by 27.8 percent to $71.3 billion in the same period while mine production is forecasted to jump by 8.4 percent.