The Rise of Vietnam Coal Imports by Country in 2025: Top Coal Importers in Vietnam

Introduction

Vietnam’s energy landscape is undergoing a dramatic transformation. Once primarily reliant on domestic coal and hydropower, the country is now one of the fastest-growing coal importers in the world. The year 2024 marked a major turning point; Vietnam’s coal imports surged to record highs, positioning the nation among the top five global coal importers. According to the Vietnam import data and Vietnam customs import data of coal, the total value of Vietnam coal imports reached a record high of $7.35 billion in 2024, a 6% increase from the previous year. 

Vietnam is the 6th largest coal importer in the world, as per the global trade data. In the first four months of 2025, Vietnam imported $2.52 billion worth of coal totaling 24.44 million tons, an 18.8% increase from the previous year, as per the Vietnam coal import data and Vietnam customs data. Vietnam's increasing industries and power generation demands are the main drivers of its coal imports. According to recent data, Vietnam’s high import levels in May 2025 were caused by utilities replenishing their supplies to meet the country's rising demand for electricity; however, imports have since declined in the months that followed. 

The main suppliers of coal to Vietnam are Russia, Indonesia, and Australia. The expansion of the nation's industry & the requirement to supply power plants with energy are two major variables affecting import quantities. The trend is clear: as Vietnam’s economy industrializes and its power demand intensifies, imported coal has become a cornerstone of its energy supply. This surge is not random; it reflects structural economic realities, evolving trade dynamics, and shifting power generation needs.

This article explores Vietnam’s coal import trajectory during 2024–25, breaking down volumes, values, and sources by country, examining what’s driving this growth, and identifying the top importers fueling Vietnam’s power-hungry economy.

Vietnam’s Coal Import Boom: The Numbers Behind 2024–25

Vietnam’s coal import volumes have exploded in just a few years. In 2023, the country imported around 51 million tons of coal, a sharp increase from roughly 31 million tonnes in 2022. But 2024 was the breakout year: total coal imports climbed to around 63.8 million tons, up about 25% year-on-year.

In monetary terms, Vietnam spent approximately $7.3 billion on coal imports in 2024, a moderate increase from the previous year, despite the massive rise in volume. This was largely due to falling global coal prices, which averaged around US$105 per ton in 2024, compared to over US$130 per ton in 2023.

The first quarter of 2025 continued the momentum. Vietnam imported about 17.3 million tons of coal. Vietnam’s coal imports were valued at US$1.8 billion in Q1 2025, maintaining its position as one of Asia’s most dynamic coal markets. Nearly 9.4 million tons of these imports were thermal coal, used almost entirely for electricity generation.

This growth trajectory signals not just temporary market fluctuations, but a structural shift. Vietnam is now deeply integrated into the global coal trade network.

Vietnam Coal Imports by Country: Where Does Vietnam Import Coal From?

Vietnam's coal imports come from various countries worldwide, solidifying its position as a crucial player in the global energy market. Key countries that Vietnam imports coal from include Australia, Indonesia, Russia, the United States, and China. Each of these countries plays a significant role in meeting Vietnam's energy demands and supporting its economic growth. The top 10 import partners or suppliers of coal to Vietnam, as per the data on Vietnam coal imports by country and Vietnam shipment data for 2024-25, include: 

1. Australia: $2.63 billion (35.9%)

Australia is the largest supplier of coal to Vietnam, accounting for nearly 36% of the country's total coal imports, as per the customs data on Vietnam coal imports from Australia by HS code. With its vast coal reserves and efficient mining industry, Australia has been able to meet Vietnam's growing demand for coal with ease. The two countries have a strong trade relationship when it comes to coal, with Australia providing high-quality coal at competitive prices.

2. Indonesia: $2.34 billion (31.9%)

Indonesia is another major supplier of coal to Vietnam, making up around 32% of the country's coal imports, as per the data on Vietnam coal imports from Indonesia. As one of the world's top coal producers, Indonesia has been able to provide Vietnam with a steady supply of coal to fuel its power plants and industries. The proximity of the two countries also makes Indonesia a convenient and cost-effective source of coal for Vietnam.

3. Russia: $913.14 million (12.4%)

Russia is a significant player in the global coal market, and Vietnam has emerged as a key importer of Russian coal. With its vast coal reserves and efficient mining operations, Russia has been able to supply Vietnam with high-quality coal at competitive prices. The two countries have forged strong trade ties in the coal sector, with Russia becoming an important supplier of coal to Vietnam.

4. South Africa: $698.71 million (9.5%)

South Africa is another important supplier of coal to Vietnam, accounting for around 10% of the country's coal imports. With its rich coal deposits and well-developed mining industry, South Africa has been able to provide Vietnam with a reliable source of coal for its energy needs. The two countries have a strong trade relationship when it comes to coal, with South Africa being a key player in Vietnam's coal market.

5. Mozambique: $418.42 million (5.7%)

Mozambique has emerged as a growing supplier of coal to Vietnam, making up around 6% of the country's coal imports. With its expanding coal industry and increasing coal production, Mozambique has been able to meet Vietnam's demand for coal with ease. The two countries have developed a strong trade partnership in the coal sector, with Mozambique playing an important role in Vietnam's coal supply chain.

6. Laos: $126.57 million (1.7%)

Laos is a relatively small but significant supplier of coal to Vietnam, accounting for around 2% of the country's coal imports. With its developing coal industry and increasing coal production, Laos has been able to provide Vietnam with a reliable source of coal for its energy needs. The two countries have a growing trade relationship in the coal sector, with Laos becoming an important player in Vietnam's coal market.

7. USA: $103.55 million (1.4%)

Despite being geographically distant, the United States is still a notable supplier of coal to Vietnam, making up around 1% of the country's coal imports. With its advanced mining technology and high-quality coal reserves, the US has been able to supply Vietnam with a steady stream of coal for its energy requirements. The two countries have a trade relationship in the coal sector, with the US playing a role in Vietnam's coal market.

8. Canada: $84.84 million (1.2%)

Canada is another country that supplies coal to Vietnam, accounting for around 1% of the country's coal imports. With its vast coal reserves and efficient mining practices, Canada has been able to meet Vietnam's demand for coal with ease. The two countries have a trade partnership in the coal sector, with Canada providing Vietnam with a reliable source of coal for its energy needs.

9. Colombia: $9.43 million (0.2%)

Colombia is a small but growing supplier of coal to Vietnam, making up around 0.2% of the country's coal imports. With its expanding coal industry and increasing coal production, Colombia has been able to provide Vietnam with a steady supply of coal for its energy requirements. The two countries have a developing trade relationship in the coal sector, with Colombia playing a role in Vietnam's coal market.

10. Spain: $5.97 million (0.1%)

Spain is a relatively minor but notable supplier of coal to Vietnam, accounting for around 0.1% of the country's coal imports. With its coal reserves and mining industry, Spain has been able to supply Vietnam with coal for its energy needs. The two countries have a trade relationship in the coal sector, with Spain playing a role in Vietnam's coal market.

Top Coal Importers & Buyers in Vietnam: Vietnam Coal Importers Database

The Vietnam Coal Importers Database provides valuable insights for businesses looking to engage in the coal industry in Vietnam. This comprehensive database offers detailed information on the top coal importers and buyers in the country, giving users a clear understanding of the market trends and key players. By leveraging this resource, companies can make informed decisions and establish successful partnerships within the Vietnamese coal import sector. Vietnam's leading coal-importing companies, or the top coal importers in Vietnam, as per Vietnam coal importers data and Vietnam coal buyers list for 2024-25, include: 

Vietnam Coal Imports in the Last 10 Years: Historical Vietnam Coal Import Data

Vietnam Coal Imports by Type: Vietnam’s Top Imported Coal Varieties

Why Vietnam Is Importing So Much Coal

Soaring Electricity Demand

Vietnam’s electricity demand has been rising by 8–10% annually, fueled by rapid industrialization, export manufacturing, and population growth. Industrial sectors such as cement, steel, and textiles, along with urban housing and commercial centers, have dramatically increased energy consumption.

With GDP growth exceeding 7% in 2024, the power demand surged beyond what domestic energy sources could sustain.

Hydropower Shortfalls

Vietnam’s reliance on hydropower, traditionally a major part of its generation mix, has faced increasing risk due to erratic rainfall and droughts. Low water levels in reservoirs during 2023–24 significantly reduced hydropower output, forcing a greater reliance on coal-fired power plants to stabilize the grid.

Limited Domestic Coal Supply

Although Vietnam produces coal through state-owned giants like Vinacomin (Vietnam National Coal and Mineral Industries Group), domestic production cannot meet rising demand. Mining costs are increasing, and environmental and logistical challenges make large-scale expansion difficult.

As a result, the share of imported coal in total consumption has steadily grown, now supplying more than half of Vietnam’s coal-fired power requirements.

Price and Market Conditions

Global coal prices softened through 2024, creating an opportunity for Vietnam to import large quantities at favorable terms. Indonesian and Malaysian coal, in particular, became more competitive as freight rates dropped and production increased in supplier countries.

Policy Framework and Power Development Plan VIII

Vietnam’s Power Development Plan VIII (PDP8), approved in 2023, confirmed that coal will remain an essential part of the energy mix through at least 2030. While renewables and LNG are growing, coal remains the baseload foundation of Vietnam’s electricity system.

The plan envisions expanding coal-fired capacity to ensure energy security while gradually introducing cleaner technologies and emission controls.

Vietnam’s Coal Imports by Country: Who Supplies the Most?

Indonesia: The Dominant Supplier

Indonesia remains the undisputed leader in supplying coal to Vietnam. In 2024, Vietnam imported roughly 27 million tonnes from Indonesia, accounting for about 43% of total imports.

Indonesian coal, especially medium-calorific-value thermal coal (around 5,000 kcal/kg), is a perfect fit for Vietnam’s power plants. It’s also relatively cheap, averaging around US$90–92 per ton in 2024.

Indonesia’s geographic proximity ensures low freight costs and steady delivery, making it the foundation of Vietnam’s import mix.

Australia: The Second Pillar

Australia supplied approximately 15–16 million tons of coal to Vietnam in 2024, maintaining its position as the second-largest supplier.

Australian coal is higher-grade and more energy-dense, often used for industrial applications and specific thermal plants that require cleaner combustion. Prices from Australia averaged US$150–155 per ton, significantly higher than Indonesian coal but offering superior quality.

Although Australia’s share has slightly declined in volume terms, its strategic role remains vital, especially as Vietnam diversifies its coal grades for different power plant specifications.

Russia: Rising Despite Distance

Russia has become a fast-growing coal supplier to Vietnam. In 2024, imports from Russia rose sharply to around 4.9 million tons, marking a growth rate exceeding 100% compared to 2023.

The average price of Russian coal was about US$170 per ton, reflecting higher transport costs but competitive terms amid geopolitical constraints that redirected Russian coal exports to Asia.

For Vietnam, Russia’s presence helps diversify supply and reduce dependence on Indonesia and Australia.

Malaysia: The Unexpected Newcomer

One of the most striking changes in 2024 was the surge in coal imports from Malaysia. Although starting from a small base, imports from Malaysia increased more than a hundredfold, reaching over 1 million tons.

This growth reflects Vietnam’s active diversification strategy and Malaysia’s emerging role as a re-export or blending hub for regional coal trade. Malaysian coal averaged around US$87 per ton, making it an attractive supplemental source.

Laos: Small But Strategic

Vietnam imported about 100,000 tons of coal from Laos in 2024, worth around US$120 million. While the absolute volume is small, Laos offers logistical advantages due to its proximity and overland transport routes.

Laotian coal is also relatively inexpensive, averaging US$65–70 per ton, and may play a bigger role in regional energy cooperation in the future.

China and Others

Imports from China remain minimal, mainly focused on specialized coal grades or metallurgical coal for industrial processes. The high average price, around US$280 per ton, limits its share in Vietnam’s import structure.

Smaller volumes also arrive from South Africa, the Philippines, and other minor suppliers, primarily based on spot market opportunities.

The Price Dynamics: Falling Costs, Rising Volumes

Despite massive increases in import volume, the total value of Vietnam’s coal imports grew at a slower pace. The reason: average import prices dropped considerably in 2024.

Overall, the average coal import price fell by 14% compared to 2023.

• Indonesian and Malaysian coal prices decreased by roughly 15–17%.

• Russian coal prices dropped by around 6–8%.

• Australian coal prices were relatively stable but still higher than others.

In the first quarter of 2025, Vietnam’s average coal import price hovered around US$105 per ton, down over 20% from the same period in 2024.

The lower prices were a boon for Vietnam’s energy sector. Power plants and industrial users were able to secure stable supplies at reduced costs, easing pressure on electricity tariffs and import bills despite rising consumption.

How the Coal Is Used in Vietnam: Sectoral Breakdown

Power Generation

The vast majority of imported coal in Vietnam is used for electricity generation. Coal-fired power plants consume more than 90% of imported volumes. In early 2025, nearly all coal imports were directed toward thermal power production to meet soaring electricity demand.

Industrial Use

Industries such as cement, steel, fertilizer, and textiles consume the remainder. These sectors depend on coal for process heat and energy. The manufacturing boom, especially in northern industrial zones, is a key factor behind Vietnam’s steadily rising coal imports.

Blending and Stockpiling

Some imported coal is blended with domestic coal to achieve desired calorific values and combustion efficiencies. Vietnam also maintains strategic reserves to buffer against supply disruptions and seasonal demand spikes.

Top Coal Importers and Key Players in Vietnam

Vinacomin (Vietnam National Coal and Mineral Industries Group)

Vinacomin is the largest coal-related enterprise in the country. It handles both domestic mining and import operations. The group imports coal to supply power plants, cement factories, and other industrial users.

Vinacomin has been increasing its coal import targets year by year to meet the demand projections outlined in the national power plan. It also engages in long-term contracts with suppliers from Indonesia, Australia, and Russia to ensure stable prices and delivery.

PV Power and EVN Subsidiaries

The electricity sector, through state-owned entities like EVN (Vietnam Electricity) and PV Power, accounts for a substantial portion of coal imports. Many large-scale power plants operate under their management, including facilities in Quang Ninh, Duyen Hai, and Vung Ang. These utilities either import coal directly or through joint ventures and trading partners.

Industrial Enterprises and Traders

Several private and foreign-invested companies have entered the coal trading market, importing coal for industrial clients or resale to energy producers. Companies such as Nittoku Vietnam Co. Ltd., among others, are active in the import chain. Their participation has increased the competitiveness of the coal import market, improving logistics efficiency and market flexibility.

Major Entry Points for Vietnam Coal Imports

The Quang Ninh Province in northern Vietnam is the country’s primary coal import hub, accounting for roughly 70% of all imported coal in 2023–24. The province’s deepwater ports and proximity to coal-fired plants make it ideal for receiving and handling bulk shipments.

Southern ports such as Vung Tau and Duyen Hai are also expanding their import capacities to serve industrial and power projects in southern Vietnam. Efficient port logistics and transport infrastructure are critical as import volumes continue to rise.

Forecast: What Lies Ahead for 2025 and Beyond

Vietnam’s coal import dependency is expected to deepen before it declines. Government projections indicate that during 2025–2035, annual coal import demand will range between 50 million and 83 million tons per year, depending on economic growth and renewable energy deployment. 

By 2030, coal may still account for around 40% of total electricity generation capacity. Imports could peak near 80–85 million tons per year by 2035 before gradually falling as renewables and LNG infrastructure expand.

However, near-term indicators show the trend remains upward. Rising demand from power plants, modest hydropower output, and steady industrialization will keep Vietnam a key growth driver in the global coal trade through at least the late 2020s.

Risks and Challenges

Environmental Impact

The rapid growth in coal imports comes with environmental costs. Coal combustion is a major source of greenhouse gas emissions and air pollution. Vietnam’s international climate commitments under the Just Energy Transition Partnership (JETP) aim to reduce emissions intensity, but balancing that goal with energy security remains challenging.

Supply Chain and Geopolitical Risks

Rising dependence on imported coal exposes Vietnam to global supply disruptions. Export restrictions, shipping delays, or geopolitical tensions involving key suppliers could threaten energy stability. Diversifying sources and building strategic reserves will be essential.

Infrastructure Constraints

Import volumes are growing faster than port and storage capacities. Without the timely expansion of handling and transport infrastructure, bottlenecks could raise logistics costs and reduce supply efficiency.

Energy Transition Pressures

While Vietnam’s power plan still includes coal, global financing for new coal projects is declining. Accessing funding for future coal-fired capacity could become increasingly difficult, potentially altering long-term import dynamics.

Conclusion and Final Takeaways 

Vietnam’s surge in coal imports during 2024–25 marks a decisive phase in the country’s energy evolution. Import volumes have reached unprecedented levels, propelled by industrial growth, power sector expansion, and domestic production limits. Indonesia, Australia, and Russia dominate Vietnam’s import mix, while new suppliers like Malaysia and Laos are entering the picture as Vietnam diversifies sources to secure a stable and affordable supply.

At the same time, falling coal prices have made imports more attractive, helping Vietnam meet rising energy demand without a proportional increase in spending. However, this growth also underscores a complex trade-off between energy security and sustainability. As Vietnam continues its journey toward modernization and industrial expansion, the country faces the dual challenge of maintaining power reliability while transitioning toward a cleaner, low-carbon future. For now, coal remains king, and Vietnam’s role in the global coal market has never been more significant.

We hope that you liked our data-driven and insightful blog report on Vietnam coal import data 2025. For more information on the latest Vietnam export-import data, or to search live data on Vietnam coal imports by country or company, visit VietnamExportdata. Contact us at info@tradeimex.in for customized Vietnam trade reports, market insights, and an exclusive & verified database on the top coal importers in Vietnam, as per your requirements.