The hard coal trade balance in Finland stood at 2.86 Million Metric Tons in 2023. From 2013 to 2023, the trade balance showed considerable volatility with significant fluctuations year-on-year. There was a marked increase in 2014, followed by sharp declines in 2015 and 2016. A temporary stabilization was observed between 2017 and 2018, but from 2019 onwards, the trend has been predominantly downward, with notable declines in 2019, 2020, and 2021. Although there was a spike in 2022, the downward trend continued in 2023 with a reduction of 4.81% from the previous year.
Over the next five years, the forecasted data indicates a consistent decrease in the hard coal trade balance, with a CAGR of -10.75% and an overall reduction of 43.38% by 2028. This decline is reflective of broader trends in energy transition and the move towards renewable resources.
Future trends to watch for:
- Finland's commitment to reducing carbon emissions may expedite the decline in hard coal trade.
- The impact of policy changes and international agreements on coal consumption and imports.
- The potential shift towards alternative energy sources and its effect on the coal market.