From 2013 to 2023, South Africa saw a gradual increase in Total Support on Coal for Consumers as a share of GDP, reaching 0.24 in 2023. The year-on-year growth between 2022 and 2023 was 1.27%, indicating a relatively modest increase. Over the last five years, the compound annual growth rate (CAGR) was 4.03%, showing steady support for coal. The forecast from 2024 to 2028 predicts a slight upward trend with an overall growth rate of 2.07% and a CAGR of 0.41%, reflecting a decelerated pace of increase.
Future trends to watch for include potential shifts in energy policy aimed at reducing reliance on coal due to environmental concerns. Another factor could be global market fluctuations affecting coal prices, consequently impacting coal support levels in South Africa.
