In the first 10 months of the year, Vietnam's coal imports reached more than 41.3 million tons.

Vietnam's coal imports of all kinds reached more than 3.6 million tons with more than 495.2 million USD in October 2023, up 11% in volume and 16.8% in value compared to the previous month, according to data recently announced by the General Department of Customs. In the first 10 months of the year, coal imports reached more than 41.3 million tons with a value of more than 5.85 billion USD, up sharply by 53.6% in volume but down 6.1% in value compared to the same period in 2022.

The average import price recorded a record decrease, reaching 141.6 USD/ton, down 38.9% compared to the same period in 2022.

Vietnam's coal imports reached more than 3.6 million tons with more than 495.2 million USD in October 2023

Australia was Vietnam's largest coal supplier in the first 10 months of the year with 16.6 million tons, worth more than 2.72 billion USD.

Vietnam is sharply increasing imports of this item from Indonesia at the cheapest price among all markets. Specifically, in October 2023, coal imports from this Southeast Asian country reached more than 1.4 million tons with a value of more than 141.8 million USD, up 170% in volume and 159.2% in value compared to October 2022. In the first 10 months of the year, Vietnam spent more than 1.71 billion USD to import 15.4 million tons of coal from Indonesia, up 76.3% in volume and 27% in value compared to the same period in 2022.

The average export price reached 111 USD/ton, down 28% compared to the same period in 2022. Indonesia is the second largest market supplying coal to Vietnam, accounting for 37.2% in volume and 29.2% in turnover.

The proportion of imported coal at high prices is increasing. Currently, domestic coal is exploited at 43-45 million tons/year, only meeting about half of the coal demand for coal-fired power plants. With the current scale of coal-fired power, it is estimated that domestic coal can only ensure the production of less than 20% of total electricity output; the remaining plants must import coal or use mixed coal.

According to the General Department of Customs, Vietnam's coal imports increased rapidly, from 6.9 million tons in 2015 to a "peak" of over 54 million tons in 2020. In the first 10 months of 2023 alone, coal imports exceeded 40 million tons.

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