Vietnam's coal imports increased by 60% in volume.

According to statistics from the General Department of Customs, in May 2024, Vietnam's coal imports of all kinds reached nearly 6.5 million tons, equivalent to 768 million USD, up 10.2% in volume and 2.2% in value compared to the previous month.

In the first 5 months of the year, coal imports of all kinds reached more than 27 million tons, worth more than 3.46 billion USD, a sharp increase of 60% in volume and 29.2% in value over the same period in 2023. The average import price in the first 5 months reached 128 USD/ton, down more than 19% over the same period in 2023.

In the first 5 months of the year, coal imports of all kinds reached more than 27 million tons, worth more than 3.46 billion USD, a sharp increase of 60% in volume.

Vietnam is importing the most coal from many markets such as Indonesia, Laos, Australia,... Of which, China is the import market with the largest growth in the first 4 months of the year.

Specifically, coal imports of all kinds from China reached 101,744 tons with a turnover of more than 28.6 million USD, an increase of 761% in volume and 618% in turnover compared to May 2023.

In the first 5 months, the import of this item from the country of a billion people reached more than 267.6 thousand tons with a turnover of more than 78.83 million USD, an increase of 147% in volume and 146% in value over the same period in 2023.

The average import price in the first 5 months reached 294.5 USD/ton, down slightly by 0.3% compared to the same period in 2023. Vietnam imported coal from China at the highest price compared to other markets.

According to Vietnam Electricity Group, coal use increased dramatically in the first five months of 2024, with coal-fired thermal power plants accounting for an average of 59% of electricity output, and on some days exceeding 70%.

That's up from nearly 45% in the same period last year and 41% in 2021, as Vietnam began drafting a coal-cutting plan and convinced international donors to pledge $15.5 billion to help phase out the fuel.

With a new coal-fired power plant coming online in 2023, coal accounted for 33% of total installed capacity last year, up from 30.8% in 2020, further pushing Vietnam away from its target of reducing it to 20% by 2030.

According to EVN, the demand for electricity is forecast to continue to increase. The forecasted electricity output of the entire system in June is 28.1 billion kWh, up 13.8% over the same period. The maximum capacity of the entire system can reach more than 52,000 MW, with the North alone reaching about 26,000 MW. Thus, the problem of using coal in electricity production will continue to increase.

As for China, the country's growing coal imports this year are challenging earlier expectations that Beijing would not stop buying coal by 2024.

In March, an executive at China's state-owned Guangdong Energy Group said the country's coal imports this year are expected to hit a record high compared to 2023. Data last month showed China's seaborne coal imports rose 17% in the first quarter.

Source: https://congthuong.vn/nhap-khau-than-cua-viet-nam-tang-60-ve-luong-325631.html