Coal market in Thailand

Earlier Report Observations

The Thai coal market volume showed significant fluctuations between 2018 and 2022, starting at 39 845 thousand tons in 2018 before dropping sharply to 22 467 thousand tons in 2019. It recovered to 36 519 thousand tons in 2020 and stabilized near 38 430 thousand tons in 2021, then declined again to 34 872 thousand tons in 2022. Domestic production remained relatively steady, ranging between 13 000 and 15 000 thousand tons annually over the same period.

In 2022, global coal prices reached record levels due to pipeline disruptions in Europe that increased European purchases from Australia and Indonesia, while post-COVID economic recovery and the closure of small mines in China boosted Chinese coal demand. These factors created upward price pressure internationally, though Thailand’s market volume contracted that year.

Coal imports into Thailand continued to decrease from 2022 onward, falling to 18 131 thousand tons in 2023 and 16 607 thousand tons in 2024. During this phase, Indonesian coal prices dropped by more than 49% from March 2023 as global supply concerns eased and Chinese demand softened after the winter. Thai coal companies faced pressure from the global clean-energy transition, leading firms like AGE to expand into logistics and sustainable energy, while domestic coal-fired power plants such as BLCP operated at full capacity without unplanned outages.

Production coal in Thailand

In kind, 2017-2020, K t

From 2017 to 2020, Thailand maintained the 24th position globally in terms of coal production volume.

Top producers of coal, 2017-2020

World map of production of coal, 2017-2020

Thailand's coal production declined for the third consecutive year. In 2020, the country produced 13 251 thousand tonnes of coal, which was 5.8% lower than the previous year. Over the 2017-2020 period, production fell by 18.5%, with a compound annual growth rate of -6.6%.

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

Exports coal from Thailand

Exports in kind, K t

The market showed noticeable fluctuations during this period. In 2019, Thailand's coal exports reached their lowest point at 27 thousand tonnes, while the peak occurred in 2018 at 84 thousand tonnes, representing a 3.2-fold difference. In 2020, exports rose sharply to 63 thousand tonnes, marking a year-on-year increase of 138.0%. The largest decline was recorded in 2019, with a drop of 68.5%.

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

Between 2017 and 2020, Malaysia, Laos, and Japan were significant buyers of Thai coal, accounting for 19.1%, 10.8%, and 10.7% of exports in kind, respectively. However, their combined share reached only 40.6% of total exports, with the remaining 59.4% distributed among numerous other trading partners.

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

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

Exports in value, M $ US

The data reveals irregular changes, pointing to a volatile market environment. Exports peaked in 2018 and hit their lowest point in 2019, with a 6.2-fold gap between these years. In 2020, Thailand exported coal worth 10 million US dollars, a sharp increase of 291.1% from 2019. The minimum value was recorded in 2019 at 3 million US dollars, while the maximum was in 2018 at 16 million US dollars. The largest decline occurred in 2019, with an 83.8% drop.

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

From 2017 to 2020, Malaysia, Japan, and Qatar were among the largest buyers of Thai coal in value terms, accounting for 22.9%, 12.5%, and 12.5% of exports, respectively. Together, they represented just 47.9% of total export value, indicating a broadly diversified partner base.

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

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

Imports coal to Thailand

Imports in kind, K t

The data reveals irregular changes, indicating a volatile market environment. Imports peaked in 2018 and fell to their lowest point in 2019, with a threefold difference. In 2020, Thailand's coal imports totaled 23 331 thousand tonnes, showing an abrupt rise of 177.0% compared to 2019. The minimum value was recorded in 2019 at 8 422 thousand tonnes, while the maximum was in 2018 at 25 078 thousand tonnes. The largest decline occurred in 2019, with a 66.4% drop.

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

Throughout 2017-2020, Indonesia remained the primary source for Thailand's coal imports in kind, accounting for 80.9% of total flows, with the rest distributed across various smaller markets.

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

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

Imports in value, M $ US

The market exhibited an unstable trend throughout the timeframe. Import levels fluctuated 2.4-fold between the high of 2018 and the low of 2019. In 2020, Thailand's coal import volume amounted to 1 329 million US dollars, which was 92.0% higher than the previous year. The minimum value was recorded in 2019 at 692 million US dollars, while the maximum was in 2018 at 1 646 million US dollars. The largest decline was recorded in 2019, with a 58.0% drop.

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

From 2017 to 2020, Indonesia accounted for 76.8% of Thailand's total coal imports in value terms, with the remaining flows scattered across multiple smaller partners.

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

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