Carbon Economy China Economy Global Macro

China and India drive record global coal consumption

Friday 19 December 2025

China (31.8% share in 2024) and India (8.3% share in 2024) have driven the increase in global carbon emissions this century.

Both nations have shown an insatiable appetite for coal.

In 2024, China accounted for 55.8% of the world’s coal consumption, whereas India accounted for 13.9%. Australia, by contrast, accounted for only 0.9% of the world’s coal consumption in 2024:

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.