During the first quarter of 2023, Colombia exported 13.2 million tons of thermal and metallurgical coal, an increase of 10.6% compared to the first quarter of 2022, for a value of USD 2,573 million, representing an increase of 74% in compared to the same period last year.
This was confirmed by the National Federation of Coal Producers (Fenalcarbón).
“These numbers contrast with the decline in global coal trade due to the global economic slowdown and lower demand for this power generation input observed throughout 2023, which marked the fulfillment of previously acquired exports during the first quarter. commitments,” explains Carlos Cante, Executive President of Fenalcarbón.
He added that most countries stockpiled last year fearing the consequences of the war between Russia and Ukraine, and the winter in Europe not being as severe as expected, moderating consumption and causing a build-up of stocks.
Fenalcarbón confirmed that thermal coal, Colombia’s second export, records an exported volume of 12.7 million tons, an increase of 9.8%, with a turnover of $2,484 million, representing an increase of 75% compared to the first quarter of 2022. The main export destinations were the Netherlands, Poland, Turkey, Mexico, Israel and Chile.
Exported volumes of metallurgical coal reached 481 thousand tons, an increase of 40%, with a turnover of UD 89 million. The main destinations were China, Brazil, Japan and Poland.
For its part, Colombian coke showed a 29% drop in exports, going from 1.2 million tons in the first quarter of 2022 to 881 thousand tons between January and March 2023.
In value terms, exports fell from USD 475 million to USD 281 million in the first three months of 2022 compared to 2023, a decrease of 41%. The main consumers of Colombian coke remain Brazil, India, Argentina, Mexico and Belgium.
“Coke exports are falling disproportionately compared to what is observed in the coal market, as the world market is estimated to have reached about 5 million tons in Q1 2023, one of the lowest levels in the last 3 years. This situation is caused by the contraction of world steel production and, in the case of Colombia, by the decline in demand from our main trading partners Brazil and Turkey,” Cante added.
Source: El heraldo

Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.