Jun 21, 2010 (Bloomberg) -- Australia, the world’s largest shipper of coal, iron ore and wool, raised its forecast for 2011 export earnings by 8.3 percent on increased contract prices for iron ore and coking coal.

Exports will be worth A$202.5 billion ($178 billion) in the 12 months ended June 2011, an increase of 23 percent on the expected fiscal 2010 result of A$164.1 billion, the Canberra- based Australian Bureau of Agricultural and Resource Economics said today in an e-mailed statement today.

In March, the bureau said 2011 export earnings would be worth A$187 billion.