Coal market in ASEAN

Earlier Report Observations

The ASEAN coal market volume increased from 341 million tons in 2018 to 483.8 million tons in 2022, with steady growth interrupted only by a slight contraction in 2021. The strong expansion in 2022 was primarily driven by rising coal consumption for electricity generation and industrial applications across the Asia-Pacific region. This period also saw the emergence of liquid coal as a new product segment, offering advantages in transportation and storage and contributing to market diversification.

While complete market volume figures are not available for 2023 and 2024, trade data indicates a shift in dynamics. Imports fell to 85.7 million tons in 2023 before recovering to 104.3 million tons in 2024, while exports rose consistently from 393.5 million tons in 2022 to 503.1 million tons in 2024. This export growth was supported by the post-pandemic rebound in global coal demand, particularly from Asian markets, and was reinforced by high natural gas prices which enhanced coal's competitiveness for power generation. Regional factors, including record production levels in India reflecting sustained demand, further influenced trade flows.

Production coal in ASEAN

In kind, 2017-2020, M t

Top producers of coal, 2017-2020

World map of production of coal, 2017-2020

ASEAN's coal production saw a two-year increase before declining. In 2019, production reached its peak at 696.5 million tonnes. However, in 2020, it fell to 639.4 million tonnes, marking an 8.2% decrease from the previous year. Over the period from 2017 to 2020, production grew by 20.3%, with a compound annual growth rate of 6.4%. The largest year-on-year increase occurred in 2018, when production rose by 18.6%.

Annual dynamics of production in ASEAN in kind, 2017-2020, M t

In value, 2017-2020, M $ US

ASEAN's coal production declined for the second year in a row. In 2018, production value peaked at 39 289 million US dollars. By 2020, it had dropped to 32 735 million US dollars, representing an 11.6% decrease compared to 2019. From 2017 to 2020, production value increased by 6.9%, which translates to an annualized growth rate of 2.2%. The most significant increase was recorded in 2018, with a 28.3% rise.

Annual dynamics of production in ASEAN in value, 2017-2020, M $ US

Exports coal from ASEAN

Exports in kind, M t

After two years of growth, coal exports from ASEAN declined. In 2019, exports reached their highest point at 420.9 million tonnes. In 2020, they fell to 329.0 million tonnes, a 21.8% decrease from the previous year. Between 2017 and 2020, exports decreased by 10.3%, equating to an annualized decline of 3.5%. The largest increase occurred in 2018, with exports rising by 7.8%.

Annual dynamics of product's exports from ASEAN in kind, 2017-2020, M t

From 2017 to 2020, China, India, and South Korea were consistently the main destinations for ASEAN's coal exports in volume terms. China accounted for 31.7% of exports, India for 25.0%, and South Korea for 7.8%. Together, these three countries represented 64.6% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from ASEAN in kind, 2017-2020

Exports in value, M $ US

ASEAN's coal exports declined for the second consecutive year. In 2018, export value peaked at 24 620 million US dollars. By 2020, it had dropped to 16 844 million US dollars, down 24.8% year-on-year. Over the period from 2017 to 2020, export value decreased by 20.3%, with a compound annual decline rate of 7.3%. The largest increase was recorded in 2018, with a 16.5% rise.

Annual dynamics of product's exports from ASEAN in value, 2017-2020, M $ US

Throughout 2017 to 2020, China, India, and Japan formed the core group of markets for ASEAN's coal exports in value terms. China accounted for 26.7% of exports, India for 21.7%, and Japan for 11.4%. Collectively, these three countries represented 59.8% of total export flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from ASEAN in value, 2017-2020

Imports coal to ASEAN

Imports in kind, M t

ASEAN's coal imports showed significant growth over recent years. In 2019, imports declined by 16.1%, but in 2020, they rebounded to 105.7 million tonnes, reflecting a 19.3% increase from 2019. From 2017 to 2020, imports increased by 53.5%, with a compound annual growth rate of 15.3%. The largest increase occurred in 2018, with imports surging by 53.3%.

Annual dynamics of product's imports to ASEAN in kind, 2017-2020, M t

An analysis of ASEAN's coal imports in volume terms from 2017 to 2020 reveals a broad distribution across many markets. Australia accounted for 24.2% of imports, Russia for 8.3%, and South Africa for 2.6%. Together, these three countries represented only 35.1% of total import flows, with the remaining 64.9% coming from various other partners.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to ASEAN in kind, 2017-2020

Imports in value, M $ US

ASEAN's coal imports in value terms showed mixed trends. In 2018, import value peaked at 10 207 million US dollars. In 2019, it declined by 1.3%, and in 2020, it remained virtually unchanged at 10 115 million US dollars compared to the previous year. From 2017 to 2020, import value increased by 28.7%, with a compound annual growth rate of 8.8%. The largest increase was recorded in 2018, with a 29.8% rise.

Annual dynamics of product's imports to ASEAN in value, 2017-2020, M $ US

Over the period from 2017 to 2020, there was no single dominant market for ASEAN's coal imports in value terms. Australia accounted for 30.3% of imports, Russia for 9.7%, and South Africa for 2.0%. Together, these three countries represented only 42.0% of total import flows, while many smaller partners each held modest individual shares.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to ASEAN in value, 2017-2020