SURGING coal exports continue delivering for Queensland, with figures showing the commodity has recorded the largest monthly increase in value since the end of 2016.

Coal is now worth $34.3 billion dollars to Queensland for the year through to September, according to the latest Australian Bureau of Statistics (ABS) data from the Queensland Government Statistician’s Office.

A $2.1 billion spike in coal value ensured its place as the Queensland commodity export.

Every month since December 2016, coal has recorded the largest increase in export value for the resource-rich state.

AREEA’s Head of Policy and Public Affairs Tom Reid said the surge showed coal’s importance as an economic powerhouse.

“The coal industry’s contribution to Queensland’s past and future prosperity is enormous,” he said.

“Its benefits are wide-ranging and often understated, from supporting jobs and regional economies to the government revenue that builds vital infrastructure and funds social programs.”

According the September 2018 edition of the Resources and Energy Quarterly, released by the Department of Industry, Innovation and Science, coal exports are set to rise and overtake iron ore as the nation’s biggest export commodity.

“Coal is a consistently strong producer for Australia’s national economic prosperity and employment,” Mr Reid said.

A record $3.76 billion dollars in forecast coal royalties is tipped to further rise given the latest surge in the thermal coal spot price to US$100 per tonne and coking coal trading at $US$225 per tonne.

China remains the state’s largest export destination at $24.1 billion.