Foreign Affairs Minister Alexander Downer says Australia's uranium exports are expected to be worth $700 million this financial year.

He says that is enough to power almost 50 nuclear reactors and produce 2 per cent of global electricity.

Mr Downer has also used Question Time to attack Opposition Leader Kevin Rudd's opposition to a nuclear power industry in Australia while supporting uranium exports.

"What does the Leader of the Opposition think that this uranium is going to be used for?" he said.

"Fluorescent-faced watches or something like that? Lava lamps? To pave the streets of Paris, or Beijing, dare I say it.

"The hypocrisy of the Leader of the Opposition's position is obvious for all to see."