Vietnam’s exports of ores and other mineral products fell sharply by 80.98 percent in March compared to February, totalling just US$5.73 million, according to data from Vietnam’s General Department of Customs.
This brought total mineral exports for the year-to-date to US$44.25 million. China remained the largest market, accounting for nearly 45 percent of total export value despite an 81.24 percent month-on-month decline.
Exports to South Korea were a rare bright spot, rising by 163.19 percent to US$773,970. Meanwhile, shipments to Japan, Malaysia and Taiwan saw steep month-on-month decreases. The overall slump was mainly driven by reduced demand from key Asian markets.
See also: Mining in Vietnam: Industry Overview
Vietnam mineral exports, March, US$ millions
| March | February | MoM | YTD | % of YTD | |
| Total | 5.73 | 30.13 | -80.98% | 44.25 | 100.00% |
| Other | 0.51 | 9.74 | -94.80% | 13.20 | 29.84% |
| China | 2.75 | 14.65 | -81.24% | 19.78 | 44.70% |
| South Korea | 0.77 | 0.29 | 163.19% | 1.75 | 3.95% |
| Taiwan | 0.74 | 0.91 | -17.99% | 2.39 | 5.41% |
| Japan | 0.53 | 2.38 | -77.89% | 3.03 | 6.86% |
| Malaysia | 0.27 | 1.85 | -85.43% | 3.57 | 8.06% |
| Indonesia | 0.11 | 0.19 | -45.35% | 0.30 | 0.68% |
| Thailand | 0.06 | 0.12 | -51.56% | 0.22 | 0.50% |
See also: How to Start an Export Business in Vietnam.