Exports of crude oil increased in volume, decreased in value
Friday, March 15,2019AsemconnectVietnam - According to the preliminary statistics figures from the General Department of Customs, in February 2019, Vietnam exported 232,258 tons of crude oil worth of 112.08 million USD, down sharply by 52.3 per cent in volume and 50.4 per cent in turnover compared to January 2019, but the export price increased by 4 per cent, reaching an average of 482.6 USD per ton. As compare to February 2018, it also decreased by 19.4 per cent in volume; 12.9 per cent in price and 29.8 per cent in turnover.
In the first 2 months of 2019, the country’s exports of crude oil to all markets increased both in volume and turnover over the same period in 2018. In particular, the exports of crude oil to Malaysia market increased by 107.9 per cent volume and 75 per cent increase in turnover, reaching 93,462 tons, equivalent to 42.21 million USD, accounting for nearly 13 per cent of the total volume and total crude oil export turnover of the country. However, the price of crude oil exported to Malaysia fell by 15.8 per cent year on year, averaging 451.7 USD per ton.
Crude oil exports to the Chinese market also increased sharply by 86.2 per cent in volume and 55 per cent in turnover, reaching 320,505 tons, equivalent to 150.65 million USD - topping Vietnam's crude oil consumption market; accounting for nearly 45 per cent of the total volume and total crude oil export turnover of the country. The export price fell by 16.7 per cent, reaching 470 USD per ton.
Particularly, the exports of crude oil to Singapore market increased in price, quantity and turnover with 39,164 tons, up by 14.5 per cent; worth of 19.57 million USD, up by 18.9 per cent; and the average price of 499.8 USD per ton, up by 3.8 per cent.
Vietnam’s exports of crude oil in the first 2 months of 2019 – Source: The General Department of Customs
Market
|
First 2 months of 2019
|
+/- First 2 months of 2019 vs. same period of 2018 (%)
|
||
Volume (ton)
|
Value (US$)
|
Volume
|
Value
|
|
Total
|
719,259
|
337,297,830
|
7.06
|
-7.91
|
China
|
320,505
|
150,648,449
|
86.21
|
55.1
|
Thailand
|
199,349
|
94,345,684
|
34.58
|
19.26
|
Malaysia
|
93,462
|
42,213,292
|
107.91
|
75.09
|
Japan
|
44,733
|
20,377,395
|
|
|
Singapore
|
39,164
|
19,574,700
|
14.52
|
18.87
|
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