The value of Australian coal exports jumped by 35% last year to AUD 56.5bn ($43.9bn) – the highest ever annual value.
Coal was Australia’s second largest export in 2017 with iron ore first at AUD 63.3bn in the same period.
In 2017 thermal coal exports were 200mt worth AUD 20.8bn while metallurgical coal exports were 172mt with a value of AUD 35.7bn.
“Historically coal has been Australia’s biggest export earner and these trade numbers confirm its ongoing strength and significant contribution to the economy,” said Greg Evans, executive director for coal at the Minerals Council of Australia.
“Overwhelmingly the destination of coal exports continues to be Asia, spanning from established north Asian markets to the fast growing economies of Southeast Asia and India.”
Evans said Southeast Asia is emerging as a “significant new market” for Australian coal due to its recent investments in high efficiency, low emission (HELE) coal-fired power plants significantly reduce greenhouse gas emissions. Exports to this market were worth about AUD 2bn in 2017.
“The last 12 months continue to show the market fundamentals for Australian coal are positive,” he said.
“The high productivity of the Australian coal mining industry, proximity to major markets and strong regional economic and population growth will continue to underpin coal exports in the long term.”
