| Coal exports are now facing concerns about imports. Coal imports and exports are moving in opposite directions. |
According to data from the General Department of Customs, Vietnam's coal exports in November reached 141,216 tons, equivalent to 35.3 million USD, an increase of 44.2% in volume and 33.5% in value compared to the previous month. Compared to November 2022, coal exports this month increased by 60.5% in volume and 9.3% in value.
In the first 11 months of the year, coal exports reached 673,658 tons, equivalent to $211.3 million, a decrease of 41.2% in volume and 46.3% in value compared to the same period in 2022.
In May 2023, the export price of coal reached its highest level since 2020 at $419 per ton. However, the price of this commodity has continuously plummeted, reaching only $250 per ton in November, the lowest level since the beginning of the year. On average for the first 11 months of 2023, the export price of coal was $313.6 per ton, a decrease of 8.7% compared to the same period in 2022.
In terms of markets, Japan remains the largest export market for Vietnamese coal, accounting for 50.4% of the volume and 49% of the value of total exports in the first 11 months of 2023. South Africa and the Netherlands follow closely behind.
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| In the first 11 months of the year, coal exports earned $211.3 million. |
Coal exports to major markets continue to see significant declines; however, the Philippines has been increasing its purchases of this commodity from Vietnam in recent months.
Specifically, coal exports to this market in November reached 27.5 thousand tons, with a value of 6.2 million USD. Meanwhile, in November 2022, this country did not conduct any import activities.
In the first 11 months of 2023, Vietnam exported 55,219 tons of various types of coal to the Philippines, equivalent to $12.6 million, a dramatic increase of 27,500% in volume and 15,400% in value compared to the same period last year. Imports in the first 11 months of 2023 were 114 times the total volume for the entire year of 2022.
Exports of all types of coal to the Philippines accounted for only 8.2% in volume and 6% in value. However, this market experienced the strongest growth in the first 11 months of 2023.
In addition, the average export price to this market in the first 11 months reached only 229 USD/ton, a sharp decrease of 43.8% compared to the same period in 2022.
According to the General Statistics Office, Vietnam has approximately 50 billion tons of coal reserves. Quang Ninh is the most important coal-producing region in Vietnam. Coal mines here began operation in 1839. With reserves reaching 8.7 billion tons and a coastal location convenient for transporting coal to international markets, Quang Ninh has become the leading coal-producing area in the country.
In 2022, the coal industry exported 1.2 million tons, worth $411 million; however, imports reached 31.9 million tons, worth $7.16 billion. The reason is that exported coal mainly serves steel production, while domestic demand is for thermal power generation.
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