Vietnamese ore and mineral exports see upswing in Q1

Vietnam exported more than 740,908 tonnes of ores and minerals worth more than US$61 million during the first quarter of the year, representing a rise of 5.4% in volume and 71% in turnover against the same period from last year, according to the General Department of Vietnam Customs.

The average export price reached nearly US$82.4 per tonne, witnessing a sharp increase of 61% on-year.

March alone saw Vietnam rake in more than US$21.88 million from exporting 233,844 tonnes of ores and minerals, up 74.5% in volume and 45.3% in value compared to February.

Malaysia, Taiwan (China), and the Republic of Korea all remained as the country’s three largest export markets for ores and minerals throughout the reviewed period.

Most notably, the export of these products to the Malaysian market has enjoyed impressive growth, outperforming other major markets to take the leading position.

During the three-month period, Malaysia spent US$3.28 million importing 196,739 tonnes of ore and minerals from the Vietnamese market, marking a sharp annual rise of 1,827% in volume and 202% in turnover and accounting for 26% of total exports.

Currently, the nation is 15th and 65th place in the world in terms of mineral area and geological age, respectively, whilst it is also home to 60 of the 200 most popular mineral types in the world.

Source: VOV