Exporting crude oil and coal are going to decline significantly

Exporting coal are going to decline sharply. Source: Internet

According to the General Department of Vietnam Customs, in the first 15 days of the new year 2018, the whole country exported 14,334 tons of coal, worth a total turnover of nearly $US 2.1 million; Meanwhile, the export volume of crude oil was 65,788 tons with the total value of $US 35,841 million.

Compared to the same period in 2017, the export volume of coal decreased by 48,542 tons that is equivalent to 77 percent; in terms of value, it went down by $US 8 million, equivalent to nearly 79%.

Thus, the average price of coal exports this year reached nearly $US 146.3/ton lower than the same period in 2017 when the price level was about $US 160/ton.

For crude oil, the drop in production was 129,395 tons, equivalent to 66.3%; while the value of turnover decreased by $US 46.779 million, equivalent to 56.6% of reduction.

Therefore, the average export price of crude oil reached $US 544.8/ton, higher than the same period of 2017 (the same period reached nearly $US423.3/ton).

In 2017, the country exported more than 2.229 million tons of coal, total value reached over $US 287 million, increased by 79.3% in volume and 106.9% in value compared to 2016.

Meanwhile, crude oil exports reached over 6.8 million tons, it was worth more than $US 2.875 billion, decreased by 0.6% in volume but it increased by 21.8% in value compared to 2016.

Notably, China, Japan, Korea, Thailand ... are major export markets for both items in terms of crude oil and coal.