New trade data shows that coal exports rose at the end of last year despite recent global challenges, with the value of Australian coal exports in December increasing by an impressive 26 per cent from November.
Minister for Resources, Water and Northern Australia, Keith Pitt, said coal was worth $3.7 billion to the Australian economy in December alone as exporters looked to fill gaps in international markets and made the most of the increase in thermal coal prices.
“In the middle of the northern hemisphere winter, it’s not surprising that thermal coal accounted for most of the increase to meet the demand from power utilities.”
“Coal sales to Vietnam and India were stronger, reaffirming the competitiveness of Australian coal, and its reputation for high quality in global markets,” the Minister shared.
Minister Pitt said the trade data also confirms that, despite the global challenges presented by the COVID-19 pandemic, Australian resources and energy exports were valued at $272.5 billion in the 12 months to December.
“The result is a great testament to the work of our resources industry to maintain full operations throughout 2020 as the coronavirus pandemic wreaked havoc on many other industry sectors across the world,” he commented.
“These results are also an encouraging sign that many countries are looking to resume industrial production as economies recover and that is good news for the Australian resources sector.”