New South Wales coal exports have continued to grow in the past financial year, indicating firm global demand for the commodity.
Coal Services found exports are up 5 per cent on FY14, from 127 million tonnes to 133 million tonnes in FY15.
The drop in export volume to China has been made up in other Asian countries, with Korea up 8 per cent, Taiwan up 21 per cent, and the rest of Asia (bar Japan and China) doubling their Australian imports to 15.6 million tonnes in the past nine months.
However, Japan remains NSW’s largest market, consuming 40 per cent of total coal exports.
Remaining export distribution included 18 per cent to China, 17 per cent to Korea, and 11 per cent to Taiwan.
Exports to India have also doubled in the past financial year, a mark of encouragement for the market according to the NSW Minerals Council.
NSW Minerals Council CEO Stephen Galilee said the ongoing export demand indicated solid long term prospects for the future of coal.
“The NSW mining industry has been doing it tough recently, with over 5000 jobs lost across the last two years,” Galilee said.
“It’s therefore encouraging to see strong demand for NSW coal across our emerging markets.
“Coal remains vital to the NSW economy. It’s our most valuable export, and the NSW coal industry employs 35,000 people across the state.”