Global coal production saw another year of growth in 2023, increasing by 3.4% y‑o‑y to a total of 8 993 Mt. China once again led the increase in production, aiming to prevent the coal shortages experienced before 2022. However, the growth rate in 2023 was slower than in 2022. Indonesia and India each ramped up coal production by more than 85 Mt. Indonesian growth is being driven by increased seaborne demand for thermal coal from international markets and rising domestic demand. In contrast, India’s growth focuses on securing supply for domestic consumers, in particular power plants, while reducing reliance on imports.

In 2024 global coal production is forecast to have increased slightly, in line with the slower growth in coal demand, but enough to reach a new all-time high and surpass 9 bt for the first time. India is expected to be the largest contributor to global coal production growth. However, these additional volumes are expected to be partially offset by significant reduction in the United States and moderate declines in the European Union and Russia. As a result, 2024 should mark the first year without notable growth in coal production since the Covid-19 pandemic.