Vietnam exported 2.6 million tons of crude oil worth of nearly US$1.46 billion in the first eight months of this year, decreased sharply by 47.5 per cent in quantity and 26.4 per cent in value over the same period last year, showed the statistics figures of the General Department of Customs. 

In August only, the country’s exports of crude oil fell by 11.3 per cent in quantity and 15.9 per cent in value over the previous month to 368,370 tons worth of $202.1 million. The figure was down by 39.9 per cent in quantity and 16.5 per cent in value.

The average crude oil export price reached $548.6 per ton in August and $560.8 per ton in the first eight months of this year, up by 40.3 per cent over the same period last year.

China was the country’s leading crude oil export market in the first eight months of this year, accounted for 30 per cent of the total with 769,359 tons worth of $433.77 million, down by 54.7 per cent in quantity and 36.6 per cent in value over the same period last year.

Thailand followed with 607,240 tons worth of $343.5 million, down by 11.6 per cent in quantity but up by 23.8 per cent in value.

The exports of crude oil to Australia reached 549,312 tons worth of $310.911 million, increased sharply by 62.9 per cent in quantity and 126.3 per cent in value over the same period last year.

Meanwhile, the exports of crude oil to Japan fell sharply by 64.3 per cent in quantity and 50 per cent in value to 263,358 tons worth of $149.48 million; and to Singapore – down by 73.6 per cent in quantity and 63.7 per cent in value to 135,244 tons worth of $72.49 million.

The exports of crude oil to the South East Asian countries accounted for 31 per cent of the total with 821,669 tons worth of $458.26 million, down by 49.6 per cent in quantity and 29.2 per cent in value year – on – year.

Vietnam imported 8.63 million tons of petroleum worth of nearly US$8.63 billion in the first 8 months of this year, increased by 0.01 per cent in quantity and 27.3 per cent in value over the same period last year, showed the statistics figures of the General Department of Customs.

In August, the country’s imports of petroleum decreased by 5.4 per cent in quantity and 6 per cent in value month – on – month to 775,957 tons worth of $524.54 million. The figure was down by 30.8 per cent in quantity and 11.3 per cent in value compared with the same month of last year.

The average petroleum import price was at $676 per ton in August and $665.4 per ton in the first eight months of this year.

South East Asia was the country’s biggest petroleum import market in the first eight months of this year with 5.12 million tons worth of over $3.28 billion, decreased by 12 per cent in quantity and 16.2 per cent in value compared with the same period last year, and accounted for 60 per cent of the total.

The country’s exports of petroleum from Malaysia in the first eight months of this year reached 2.43 million tons worth of $1.5 billion, increased by 39.7 per cent in quantity and 89.8 per cent in value compared with the same period last year, and accounted for 46 per cent of the total.

Meanwhile, the imports from Singapore reached 1.99 million tons worth of $1.27 billion, down by 40.2 per cent in quantity and 21.7 per cent in value year – on – year; from Thailand – 0.76 million tons worth of $504.45 million, down by 7 per cent in quantity but up by 23.9 per cent in value; China – 895,197 tons, up by 48.5 per cent; Thailand – 619,739 tons, up by 9.2 per cent; Russia – 60,361 tons, up by 144.3 per cent; and Hong Kong (CN) – 102 tons.  

In the first eight months of this year, Vietnam’s imports of petroleum from South Korea increased by 12.6 per cent in quantity and 34.9 per cent in value to 2.17 million tons worth of $1.58 billion. The imports of petroleum from China also increased sharply by 47.2 per cent in quantity and 98 per cent in value to 1 million tons worth of $683.28 million.