Coal market in Northern Europe

Earlier Report Observations

Coal market volume in Northern Europe contracted sharply from 21 104 thousand tons in 2018 to 12 108 thousand tons in 2020. This decline was driven in part by reduced coal-fired power generation in Germany and the United States during 2019, as trade wars and expanding renewable energy capacity decreased demand for coal in the European energy mix.

Market volume then rebounded, reaching 15 629 thousand tons by 2022. The initial increase in 2021 was fueled by a global energy crisis that pushed coal prices to record highs and prompted several European countries to import more coal after cutting purchases of Russian natural gas. The invasion of Ukraine in February 2022 further intensified the energy crisis, leading many European nations to temporarily increase coal consumption to replace Russian gas, which supported market growth.

After peaking in 2022, coal imports into Northern Europe fell substantially to 8 350 thousand tons in 2023 and 7 491 thousand tons in 2024. This decline coincided with the growing contribution of Nordic nuclear and wind power, which reduced regional reliance on coal for electricity generation.

Production coal in Northern Europe

In kind, 2017-2020, K t

Top producers of coal, 2017-2020

World map of production of coal, 2017-2020

Northern Europe's coal production has increased for the third consecutive year. In 2020, the region produced 4 915 K t of coal, marking a sharp rise of 26.5% compared to 2019. Over the period from 2017 to 2020, production grew by 38.2%, with a compound annual growth rate of 11.4%.

Annual dynamics of production in Northern Europe in kind, 2017-2020, K t

Exports coal from Northern Europe

Exports in kind, K t

The market showed an unstable trend throughout the period. Exports reached their lowest point in 2018 at 1 133 K t, with the largest decline that year at 6.1%. In 2020, coal shipments from Northern Europe to abroad peaked at 2 540 K t, representing a steep increase of 70.1% year-over-year. The gap between the peak in 2020 and the trough in 2018 was 2.2-fold.

Annual dynamics of product's exports from Northern Europe in kind, 2017-2020, K t

From 2017 to 2020, there was no single dominant market for coal exports from Northern Europe. Germany accounted for 8.9% of exports in kind, Poland for 8.8%, and Malta for 6.7%, with these three countries together taking only 24.4% of total exports. Many smaller partners each held modest individual shares.

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

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

Exports in value, M $ US

Cross-border shipments of coal from Northern Europe have increased for the third consecutive year. In 2020, exports stood at 237 M $ US, indicating a solid increase of 20.7% compared to 2019. Over the period from 2017 to 2020, exports grew by 103%, with a compound annual growth rate of 26.6%.

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

During 2017 to 2020, Poland, Norway, and Belgium were important buyers of coal from Northern Europe in value terms, with shares of 6.1%, 6.0%, and 5.1% of exports, respectively. However, their combined share reached only 17.2% of total exports in value terms, while the remaining 82.8% was distributed among many other partners.

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

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

Imports coal to Northern Europe

Imports in kind, K t

Coal imports into Northern Europe declined for the second consecutive year. In 2020, imports stood at 9 733 K t, which is 21.7% lower compared to 2019. Over the period from 2017 to 2020, imports decreased by 41.5%, with a compound annual growth rate of 16.3%. The maximum value was recorded in 2018 at 18 615 K t, with the largest increase that year at 12.0%. The largest decline occurred in 2019 at 33.2%.

Annual dynamics of product's imports to Northern Europe in kind, 2017-2020, K t

From 2017 to 2020, Russia, the United States, and Australia were the main sources of coal imports into Northern Europe in kind. Russia accounted for 42.9% of imports, the United States for 22.1%, and Australia for 12.4%, with these three countries together making up 77.4% of total imports.

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

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

Imports in value, M $ US

Cross-border shipments of coal into Northern Europe declined for the second consecutive year. In 2020, Northern Europe imported approximately 1 105 M $ US of coal, corresponding to a dramatic decrease of 38.2% compared to the previous year. Over the period from 2017 to 2020, imports decreased by 50.4%, with a compound annual growth rate of 20.9%. The maximum value was recorded in 2018 at 2 724 M $ US, with the largest increase that year at 22.2%.

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

Throughout 2017 to 2020, Russia, the United States, and Australia played leading roles in coal imports into Northern Europe in value terms. Russia accounted for 32.5% of imports, the United States for 22.0%, and Australia for 19.3%, with these three countries jointly taking 73.8% of total import flows.

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

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