Between 2013 and 2023, the output of coal mining in Canada experienced significant fluctuations. The lowest value was observed in 2015, with a notable decline of 19.04% year-on-year. However, the industry saw a remarkable recovery in 2017 with a 50.2% increase. The years 2020 and 2021 were marked by a substantial drop of 39.28% and a subsequent recovery of 33.02%, respectively. In 2023, the value stood at CAD 6.59 billion, showing a 9.04% increase from 2022.
The five-year compound annual growth rate (CAGR) leading up to 2023 is -0.8%, indicating a slight overall decline. Future forecasts from 2024 onward suggest stability in growth, with a forecasted five-year CAGR of 0.36% and an overall growth rate of 1.8% by 2028.
Trends to watch for:
- Potential impact of environmental policies on coal mining output.
- Technological advancements in mining and their effects on productivity.
- Market demand shifts, particularly in emerging economies.
