In August 2024, Vietnam's coal exports increased sharply by 65.4%

In August 2024, Vietnam exported nearly 90,060 tons of coal, worth 18.98 million USD, a sharp increase of 65.4% in volume and 6.3% in value over the same period last year.

According to preliminary data of General Department of Customs, in 8 months of 2024 export Coal exports to foreign markets increased by 22.4% in volume but decreased by 12.7% in value compared to the first 8 months of 2023, reaching 385,382 tons, equivalent to 96.42 million USD; in August 2024 alone, nearly 90,060 tons of coal were exported, worth 18.98 million USD, up 10.2% in volume and 8.4% in value compared to July 2024 and up sharply by 65.4% in volume and 6.3% in value compared to August 2023.

Coal exports to the Philippines market reached 69,720 tons, a sharp increase of 31,736%. (Photo: quangninh.gov.vn)

The average export price of coal in August 2024 reached 210.7 USD/ton, down 1.6% compared to July 2024 and down 35.8% compared to August 2023. On average, in the first 8 months of this year, coal prices decreased by 28.7% compared to the same period last year, reaching 250.2 USD/ton.

Japan is the largest consumer market for our country's coal exports. In the first 8 months of 2024, 119,817 tons of coal were exported to Japan, earning 29.93 million USD, down 3.6% in volume and 29% in value compared to the first 8 months of 2023; accounting for over 31% of the total volume and total export value of coal in the country. The price of coal exported to Japan decreased by 26.5% compared to the first 8 months of 2023, reaching 249.8 USD/ton.

Coal exports in the first 8 months of 2024. Source: General Department of Customs

Notably, the Philippines is Vietnam's second largest coal consumer market, with exports to this market in the first 8 months of 2024 increasing sharply by 31,736% in volume and 16,506% in value over the same period in 2023, reaching 69,720 tons, equivalent to 15.1 million USD, but the export price decreased by 47.8%, reaching 216.6 USD/ton.

Next is the South African market with 35,020 tons, equivalent to 10.37 million USD, up 52.3% in volume, up 1.2% in turnover over the same period, price decreased 33.6%, reaching 296 USD/ton.

In the first 8 months, Vietnam also exported 51,516 tons of various types of coal to Indonesia, equivalent to 10.05 million USD, an increase of 759% in volume and 375% in value.

In addition, other markets also witnessed strong growth such as the Netherlands and South Korea.

The increase in imports by countries is due to the increasing demand for coal for production activities, especially thermal power, while hydropower is facing difficulties. The cause is the impact of the El Nino phenomenon causing record hot weather.

Source