Imports of all types of coal increased by nearly 37% in volume compared to the same period last year.

According to preliminary statistics from the General Department of Customs, in July 2024, Vietnam's imports of all types of coal reached 7.05 million tons, equivalent to nearly 838 million USD, an increase of 10.8% in volume and 14.7% in value compared to the previous month.

Overall, in the first seven months of the year, Vietnam's imports of all types of coal reached 40.49 million tons, worth nearly $5.04 billion, a sharp increase of 36.9% in volume and 16.1% in value compared to the same period in 2023.

With the ever-increasing demand for electricity, Vietnam is having to step up its use of coal in electricity production, leading to increased coal imports from many markets.

Vietnam is actively importing this product from many major markets such as Indonesia, Australia, Malaysia, etc.

Source: General Department of Customs

Of these, Australia was Vietnam's largest importer of various types of coal in terms of value during the first seven months of the year. In July 2024, imports of various types of coal from Australia reached nearly 2.63 million tons, worth nearly US$346 million. In the first seven months of 2024, imports of various types of coal from this market reached 10.8 million tons, worth US$1.73 billion.

Following closely behind are Indonesia and Russia. In July 2024, Vietnam imported 2.077 million tons of various types of coal from Indonesia, valued at US$187.4 million. For the first seven months of the year, imports of this commodity from Indonesia reached 16.36 million tons, valued at nearly US$1.5 billion. Also in July 2024, Vietnam imported 694,000 tons of various types of coal from Russia, valued at US$113.37 million. For the first seven months of the year, coal imports from this market reached 3.64 million tons, valued at US$657 million.

Vietnam's coal imports in the first seven months of 2024 increased by nearly 37% compared to the same period last year. Photo: VNA

Notably, Laos is one of the countries from which Vietnam plans to import large quantities of coal. Specifically, imports of various types of coal from Laos in July reached nearly 100,000 tons with a value of 7.38 million USD, at a price of 74.3 USD/ton.

In the first seven months of the year, imports of this commodity from the neighboring country reached over 1.26 million tons, worth nearly $83 million, with an average price of $65.5 per ton. This is the cheapest import price compared to other markets. Meanwhile, in 2023, Vietnam did not import coal from Laos.

The Ministry of Industry and Trade stated that Vietnam's demand for imported raw materials and fuels is very high. Between 2025 and 2030, Vietnam's coal import needs are projected to reach approximately 60-100 million tons per year. To ensure sufficient coal supply for electricity production in 2024, investors in coal-fired power plants are tasked with arranging for 74.307 million tons of coal, while the plants are designed to use approximately 26.1 million tons of imported coal.

Therefore, the Ministry of Industry and Trade has implemented the development of a Coal Trade Agreement with Laos to ensure a stable coal supply for Vietnam. This market is highly regarded for its potential and is gradually becoming an important source of products and raw materials for Vietnam within ASEAN.

Source: https://congthuong.vn/nhap-khau-than-cac-loai-tang-gan-37-ve-luong-so-voi-cung-ky-343118.html