The minerals industry is Australia's largest export earner with mineral exports accounting for 50 to 60 per cent of the annual value of total exports of goods and services in recent years. In current dollar terms, the value of Australian mineral exports (excluding oil and gas) increased from $45.9 billion in 2002-03 to $145.6 billion in 2012-13, dominated by iron ore, coal, gold, copper, alumina/aluminum, and nickel. The major increase in the overall value of mineral exports in this period reflects increases in both production and commodity prices.