| Worrying about importing while exporting coal. Coal import and export increase and decrease in opposite directions. |
According to the General Department of Customs, Vietnam's coal exports in November reached 141,216 tons, equivalent to 35.3 million USD, up 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 USD, down 41.2% in volume and 46.3% in value over the same period in 2022.
In May 2023, the export price of coal reached its peak in the period from 2020 to present at 419 USD/ton. However, the price of this item has continuously plummeted, reaching only 250 USD/ton in November, the lowest level since the beginning of the year. On average, in the 11 months of 2023, the export price of coal was at 313.6 USD/ton, down 8.7% compared to the same period in 2022.
In terms of market, Japan is still the largest export market for Vietnamese coal, accounting for 50.4% in volume and 49% in value of total exports in the first 11 months of 2023. Following behind are South Africa and the Netherlands, respectively.
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| In the first 11 months of the year, coal exports earned 211.3 million USD. |
Coal exports to major markets continue to see sharp declines, however, the Philippines has been increasing purchases of this commodity from Vietnam in recent months.
Specifically, coal exports to this market in November reached 27.5 thousand tons, with a turnover of 6.2 million USD. Meanwhile, in November 2022, this country did not carry out import activities.
In the first 11 months of 2023, Vietnam exported 55,219 tons of coal of all kinds to the Philippines, equivalent to 12.6 million USD, a sharp increase of 27,500% in volume and 15,400% in value compared to the same period last year. The import volume in the first 11 months of 2023 was 114 times higher than the total volume of the whole year of 2022.
The proportion of coal exports of all kinds to the Philippines accounts for only 8.2% in volume and 6% in value. However, this is the market that has had the strongest growth in the 11 months of 2023.
Besides, the average export price to this market in 11 months only reached 229 USD/ton, down sharply by 43.8% compared to the same period in 2022.
According to the General Statistics Office, Vietnam has about 50 billion tons of coal reserves. Quang Ninh is the most important coal mine in Vietnam. Coal mines here have been put into operation since 1839. The reserves of up to 8.7 billion tons and the location near the sea, convenient for transporting coal to international markets, have helped Quang Ninh become the leading coal mining area in the country.
In 2022, the coal industry exported 1.2 million tons, worth 411 million USD; however, the import volume reached 31.9 million tons, worth 7.16 billion USD. The reason is that exported coal mainly serves steel production, while domestic demand is for thermal power generation.
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