Over the period from 2013 to 2023, Spain's hard coal trade balance has experienced significant fluctuations. In 2023, the trade balance stood at 8.64 million metric tons. Notably, the year 2020 saw a dramatic decline of 71.96%, reaching 1.98 million metric tons, followed by a recovery in 2021 and 2022, with a significant year-on-year increase of 93.05% and 111.48%, respectively.
The average annual variation (CAGR) over the last five years (2019-2023) shows a negative trend at -11.04%. The forecast indicates a continued decline, with an estimated drop to 4.71 million metric tons by 2028, reflecting an average annual decline (CAGR) of -9.69% over the next five years. This signifies a 39.94% decrease in the trading volume over the forecasted period.
Future trends to watch for include:
- The impact of sustainable energy policies and a potential shift towards renewable energy sources.
- Global coal market dynamics and how international supply-demand shifts may affect Spain's import and export activities.
- Technological advancements in energy production that could further reduce reliance on hard coal.