Australia’s coal export
values have hit a new peak of $56.5 billion in 2017, according to the
latest trade data from the Australian Bureau of Statistics (ABS).
This valuation is 35 per cent
higher than 2016 and beats the previous record of $46.7 billion, set
in 2011, by nearly $10 billion.
The $56.5 billion is split
between 200 million tonnes (Mt) of thermal coal valued at $20.8
billion, and 172Mt of coking coal valued at $35.7 billion.
According to MCA executive
director, coal, Greg Evans, Southeast Asia is a particularly important
emerging market for coal, where market exports accounted for roughly
$2 billion in 2017.
“Southeast Asia is emerging
as a significant new market for Australian coal owing to its recent
investments in high efficiency, low emission coal-fired power plants
significantly reducing greenhouse gas emissions,” he explained.
Australia’s largest coal export market, also saw record Australian
coal imports for the year with a full year rise of 5 per cent to 1.075
billion tonnes. However, this growth is expected to slow in 2018 due
to changing market conditions in the country.