Resources exports to drive GDP growth

A RISE in iron ore and coal exports is expected to have been the major driver of economic growth in an otherwise weak final three months of 2012.

AAP's survey of 14 economists revealed a median forecast for the Australian economy to have grown by 0.7 per cent in the December quarter for an annual growth of 3.1 per cent.

The Australian Bureau of Statistics will release gross domestic product (GDP) figures for the December quarter on Wednesday.

Bank of America Merrill Lynch Australia chief economist Saul Eslake said resources exports were likely to be the major driver of growth in the quarter.

"You've got substantially higher volumes of iron ore and coal exports in particular and probably some softening of import volumes," he said.

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