In this piece, we are going to present the top 20 coal exporting countries in the world. If you wish to skip our detailed discussion of the global coal market, you can go directly to the Top 5 Coal Exporting Countries in the World.
Ongoing factors like Russia-Ukraine conflict, economic growth, policy changes, and energy demand in the various regions of the world meant that global coal sector underwent continuous shift in the larger sense for the last few years; in 2022, coal saw its supply and demand both reaching its all-time high, where the demand hit the 8 billion tons mark, according to IEA. Furthermore, the demand is expected to stay the same in 2024 as well. Shifts in fuel prices, along with forward market curves are also some of the factors that are causing this trend of the market. With this, the global coal mining market is expected to rise from $648.04 billion in 2023 to hit $795.76 billion by 2032, at a CAGR of 2.6%, according to Expert Market Research. The demand for coal is expected to continue to exist and drive the market, despite the recent shift to renewables. If this prediction is accurate, this may be a great opportunity to buy coal stocks (see 11 Best Coal Stocks to Buy)
As far as coal mines are concerned, 3 biggest coal mines of the world are North Antelope Rochelle coal mine, Haerwusu coal mine, and Hei Dai Gou coal mine, with coal recoverable reserve totaling 1.7 billion tons, 1.6 billion tons, and 1.5 billion tons, respectively.
With a record 505.4 million tons exported in 2023, an increase of 54 million tons, or 12%, over 2022, Indonesia emerged as the world's largest exporter of thermal coal, according to Reuters. While Indonesia may top as the global exporter, China, with a 2.5% increase in production to 3,942 million tons in 2021, remains the world's largest producer of coal, according to Global Data. Additionally, China, on its own, is responsible for one-third of the coal consumption on global level, according to S&P Global. While 120 countries don't export any coal, among those that do, the one at the bottom of the list is Sweden, exporting only 10 short tons of coal in 2021.
On the other hand, there have been some notable recent developments in the US coal market. The United States produced 140.8 million short tons of coal in the fourth quarter of 2023, a 3.4% decline from the same time in 2022, according to S&P Global. This production has been predicted to see a downtick in coming years, as S&P Global sees 19% fall in 2024, and another 3% in 2025. The consumption of coal is expected to follow this downward trend in the U.S., as well as European regions, as renewable sources of energy are expected to satisfy 90% of any electricity demand by 2025, according to IEA. As the coal market has allocated the concentration of production onto metallurgical coal for industrial consumption, as well as for exports purposes, the industry looks onto stabilization. During this time, however, employment in U.S. coal mines remained relatively steady despite the drop in production, increasing by less than 1% annually on average. You can see the biggest coal mining companies in the US here.
In the realm of coal mining and production, two industry giants are going to be discussed, namely, Peabody Energy Corporation (NYSE:BTU) and Arch Resources, Inc. (NYSE:ARCH).
Peabody Energy Corporation (NYSE:BTU) operates coal mining works across the regions of United States, Japan, Taiwan, Australia, India, Brazil, Belgium, Chile, France, Indonesia, China, Vietnam, South Korea, Germany, and more. The company, headquartered in Saint Louis, Missouri, boasted net income figure of whopping $760 million in 2023, with its operating cash flows from continued operations hitting the $1.1 billion mark! Furthermore, with the purpose of giving back to its shareholders, Peabody Energy Corporation (NYSE:BTU) announced $471 million return for them in 2024!
Arch Resources, Inc. (NYSE:ARCH), on the other hand, operates across America, boasting a substantial control in the market, by taking over and controlling coal reserves with the help of long-term leases; these coal lands span across the states of Ohio, Maryland, and Virginia, to name a few. They target the utility, industrial and steel production markets on the domestic, as well as an international scale.
Moving on to the financial performance of Arch Resources, Inc. (NYSE:ARCH), we find that the company’s net income of 2023 4th quarter, ending 31 December 2023, stood at $114.9 million, which meant an EPS of $6.07; however, it was a decrease from the prior year’s net income figure of $470.5 million, and EPS of $23.18. Also, the company’s revenue figure was $774 million for the year, which was a decrease from the prior year’s revenue of $859.5 million.
Having discussed the overall situation of the global coal market, we will now move forward to our list of Top 20 Coal Exporting Countries in the World.
Top 20 Coal Exporting Countries in the World
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Methodology
To create our list of the Top 20 Coal Exporting Countries in the World, we’ve used recent statistics for coal exports per thousand short tons using multiple resources, mainly The Global Economy, while the others were used for cross checking purposes like World’s Top Exports, wherein the most recent data available dates to the year 2022; we’ll rank the countries with highest number of exports per thousand short tons at a higher rank, in an ascending order. With this let’s now jump onto our list of Top 20 Coal Exporting Countries in the World.
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20. Spain
Exports: 1,415 thousand short tons
First on our list of Top 20 Coal Exporting Countries in the World is Spain. The data set, which covers the years 1980–2022, shows variations in Spain's imports of coal. During this time, Spain imported over 449.5 thousand short tons a year on average.
On the other hand, imports peaked in 2020 at about 2,189.54 thousand short tons, which may have been caused by changes in energy policies or a considerable increase in demand. The import volume corrected to 1,415.85 thousand short tons by 2022, suggesting ongoing shifts in Spain's import patterns for coal.
19. Kyrgyzstan
Exports: 1,456 thousand short tons
Next on our list of Top 20 Coal Exporting Countries in the World is Kyrgyzstan, whose coal reserves equal 1.3 billion tons, according to IEA. However, the country has got 70 deposits of coal, and the government eyes coal mining production of 3 million tons by 2025, through its mines of Kara‑Keche, Besh-Burhan, and Zhergalan, just to mention a few. Coming on to exports, Kyrgyzstan's values ranged from a minimum of 12.13 thousand short tons in 1999 to a maximum of 1456.04 thousand short tons in 2022, with an average of 311.77 thousand short tons.
18. Germany
Exports: 1,573 thousand short tons
Germany, with a total coal supply of whopping 555.8 million tons, according to IEA, has a notable export volume of 1,573 thousand short tons of coal, making up a significant portion of the global market. This figure demonstrates Germany's ability to meet global energy demands on a smaller scale, as well as its advantageous position in the coal export market, which supports a wide range of industrial activity globally. The exports, on the other hand, accounted for 50.9% of 2022 supply, which have risen ever since 2000, at a rate of 35%, according to IEA.
The coal type that is produced in the country is Lignite, which encompasses 100% of the total production. Lignite coal, due to its cost-effectiveness characteristic, is primarily used in power generation, and is the lowest grade coal type.
17. Tanzania
Exports: 1,884 thousand short tons
Tanzania is 17th on our list of Top 20 Coal Exporting Countries in the World. Coal accounts for 1.9% of the country’s total energy mix, equaling 4.8 million tons in 2021; total coal production, on the other hand, has hit 6 million tons in the same year, according to IEA. Bituminous coal, which has an intense heating value, is the type of coal that is produced in the country.
Over the years, Tanzania's coal exports have varied, averaging 63.19 thousand short tons. The exports started from zero in 1980, reaching their peak at 1,884.95 thousand short tons by 2022, which also stands as the most recent figure for the country's coal exports.
16. Czech Republic
Exports: 2,185 thousand short tons
In the Czech Republic, coal is the sole major domestic energy resource. The proven coal reserves of the nation are estimated to be 880 million tons, according to Euracoal. The Czech Republic's exports of coal, coke, and briquettes reached their lowest point during the period under study in 2020, at 1.96 billion kilograms. The export volume in 2022 was the second lowest, its value, at $0.8 billion, was the fourth highest.
15. Afghanistan
Exports: 3,685 thousand short tons
At number 15 on our list of Top 20 Coal Exporting Countries in the World is Afghanistan, which has always produced most of its coal for internal use rather than export through its proven coal reserves of 73 million tons; nevertheless, its export value equaled $1.49 billion in 2022. Afghanistan's exports have fluctuated by $248 million throughout the previous five years under review, from $1.24 billion in 2017 to $1.49 billion in 2022.
14. China
Exports: 4,380 thousand short tons
China does export a sizable amount of coal despite being the world's largest producer and user of coal, and the export value varies annually depending on local demand and policy decisions; in 2023, the country’s coal production hit whopping 3,942 million tons in 2021, as previously mentioned!
China was ranked 14th in the world for coal briquette exports in 2022 with $1.44 billion in exports. Furthermore, coal briquettes ranked as China's 360th most exported goods in the same year. Indonesia ($638 million), Japan ($279 million), South Korea ($155 million), India ($91.6 million), and Malaysia ($42.4 million) are China's top export markets for coal briquettes, according to OEC.
13. Poland
Exports: 6,071 thousand short tons
According to GlobalData, Poland's output fell by 4.1% CAGR in the five years leading up to 2021, and it is predicted to increase by 1% CAGR in the following five years, from 2022 to 2026. Poland ranked 13th in the world for coal briquette exports in 2022 with $1.68 billion in exports. In that particular year, coal briquettes ranked as Poland's 46th most exported goods.
Moreover, Slovakia ($158 million), Ukraine ($87.4 million), Germany ($80 million), Czechia ($871 million), Austria ($341 million), and Slovakia ($158 million) are the top destinations for Polish exports of coal chunks. Poland is placed 13th on our list of Top 20 Coal Exporting Countries in the World.
12. Philippines
Exports: 9,587 thousand short tons
At number 12 on our list of Top 20 Coal Exporting Countries in the World is the Philippines. About 56% of the coal produced in the Philippines was sold to China in 2022, a considerable decrease from the about 95% proportion that was exported the year before.
In 2023, from January to March, Semirara Mining and Power Corporation, a mining company in Philippines which accounts for 99% of the country’s coal production, saw its exports to China rising 50% through the period, having a share of 72% of its total exports in the period, according to Nikkei Asia.
11. Mozambique
Exports: 10,376 thousand short tons
Mozambique, which is placed 11th on our list of Top 20 Coal Exporting Countries in the World, is one of Africa's leading exporters of coal, and its production volume stood at 70.6 million tons in 2021, according to IEA. The country has substantial coal deposits, especially in the Tete province, which is home to one of the biggest coal mines in the world, the Moatize mine - which reportedly encompasses about 913.8 million tons of proven coal reserves, as of 2019! Briquettes made of coal are Mozambique's main export ($3.45 billion), according to OEC.
10. Netherlands
Exports: 17,646 thousand short tons
The Netherlands ranked 10th in the world for coal exports in 2022 with $1.41 billion in exports. Coal briquettes were the 91st most exported goods from the Netherlands in that same year; coal briquettes are a mixture of coal and biomass, used primarily as a fuel.
In 2022, Germany ($892 million), France ($176 million), Belgium ($78 million), Luxembourg ($42.5 million), and Canada ($33.5 million) were the top destinations for Dutch exports of coal briquettes, according to OEC; briquettes also accounted for $9.96 billion imports in the same year!
9. Mongolia
Exports: 21,459 thousand short tons
The average annual production of coal in Mongolia from December 1981 to December 2021 was 7.157 million tons, with 41 observations. The statistics set a record low of 4.300 million tons in 1981 and an all-time high of 57.129 million tons in 2019. Mongolia is placed 9th on our list of Top 20 Coal Exporting Countries in the World.
Mongolia produced around 0.75 exajoules of coal in 2022, with a share of 69.1% in the total energy supply of country in the previous year, according to IEA. Compared to the previous year, when the country produced around 0.62 exajoules of coal, this showed an increase. In terms of the type of coal produced in the country, coking coal accounted for 76% of the total production in 2021.
8. Canada
Exports: 31,825 thousand short tons
Canada produced 47.6 million tons of coal in 2021, as 6 million tons of coal was brought in the country, while 32 million tons of coal was exported. After the US, Australia, and Russia, Canada is the world's eighth-largest exporter of metallurgical coal. This is evident from the fact that the coal mines in Canada were able to give out an output of 47 million tons in 2022, and 59% of this production was of 83% of metallurgical coal, according to Government of Canada. Canada's coal was mostly produced in British Columbia and Alberta, which contributed 59% and 28% to the total production in the country.
7. Kazakhstan
Exports: 41,106 thousand short tons
Next on our list of Top 20 Coal Exporting Countries in the World is Kazakhstan, which is blessed with 16 of the few thousands coal mines in the world; the biggest one in the country is Bogatyr Komir Mine which has a production capacity of 33.78 million of tons on annum basis, according to Mining Technology.
In December 2021, Kazakhstan's coal production was recorded as 115.694 metric tons, which was an increase from the December figure of prior year, amounting to 113.398 metric tons. Kazakhstan's coal production data is updated annually and has 37 observations, averaging 111.072 million tons from December 1985 to December 2021.
6. Colombia
Exports: 62,334 thousand short tons
6th on our list of Top 20 Coal Exporting Countries in the World is Columbia. The country increased its coal output by 4% in 2022, also making it the sixth-largest exporter in the world. The output from Colombia fell by 9.93% CAGR in the five years leading up to 2021, and it is anticipated to increase by 1% CAGR in the following five years, from 2022 to 2026, according to Mining Technology.
Making up 0.74% of the world's production, Colombia's coal exports rose by 4% in 2022 compared to 2021, with Turkey receiving the majority of the export value. Between 2022 and 2026, Colombia's coal exports are predicted to increase at a modest CAGR of 0.96%.
