Saturday, March 23,2019 - 1:50 GMT+7  Việt Nam EngLish 

Vietnam’s exports of crude oil and petroleum in first 2 months 

 Sunday, March 17,2019

AsemconnectVietnam - Vietnam’s exports of crude oil as well as petroleum saw year – on – year increase in the first 2 months of this year, showed the statistics figures of the General Department of Customs.

In the period, the country’s exports of crude oil reached 337.3 million USD while the exports of petroleum reached 342.83 million USD.
Vietnam's petroleum exports in the first 2 months of 2019 increased strongly by 75.3 per cent in volume, 79.7 per cent in turnover and 2.5 per cent in price over the same period last year with 563,137 tons, equivalent to 342.83 million USD, priced at 608.8 USD per ton.

Crude oil exports reached 719,259 tons worth of 337.3 million USD

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, according to the statistics figures of the General Department of Customs. 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 total exports of crude oil increased by 7.1 per cent in volume but decreased by 14 per cent in price and 7.9 per cent in turnover over the same period in 2018, reaching 719,259 tons, equivalent to 337.3 million USD, with the average price of 469 USD per ton.

Main export markets of crude oil in the first two months
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.

Meanwhile, the exports to Thailand market also increased by 34.6 per cent in volume and 19.3 per cent in turnover, reaching 199,349 tons, equivalent to 94.35 million USD; accounting for 28 per cent of total volume and total turnover. The export price fell by 11.4 per cent, reaching 473.3 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.
The crude oil imports into Vietnam in the first 2 months of 2019 increased by 9.1 times in volume and 15.2 times in value compared to the first 2 months of 2018, reaching 1.46 million tons worth of 635.41 million USD. The import prices rose by 66.1 per cent to 434.5 USD per ton.

Petroleum exports increased strongly in volume and in value
According to the statistics figures of the General Department of Customs, Vietnam's petroleum exports in the first 2 months of 2019 increased strongly by 75.3 per cent in volume, 79.7 per cent in turnover and 2.5 per cent in price over the same period last year with 563,137 tons, equivalent to 342.83 million USD, priced at 608.8 USD per ton.
In February 2019 alone, the country’s exports of petroleum reached 208,661 tons, equivalent to 126.21 million USD, decreased by 11.4 per cent in volume and 3 per cent in turnover compared to the previous month.

Main petroleum export markets in the first two months
Vietnam’s exports of petroleum to Cambodia reached 142,884 tons, equivalent to 79.73 million USD, accounting for 25.4 per cent of the total volume and accounted for 23.3 per cent of the total petroleum export turnover of the whole country, up by 45.2 per cent in volume and 31.2 per cent in turnover compared to the first 2 months of 2018. However, the export price dropped by 9.6 per cent to 558 USD per ton.
China ranked second with 127,427 tons, equivalent to 78.74 million USD, accounting for 22.6 per cent of the total volume and 23 per cent of the total turnover, up by 27.9 per cent volume and 25.8 per cent increase in turnover; the export prices fell slightly by 1.6 per cent to 617.9 USD per ton.

The exports to saw a very strong increase of 202.6 per cent in volume and 126.7 per cent in turnover over the same period last year, although the volume reached only 39,158 tons, equivalent to 21.46 million USD, however, the prices plummeted by 25 per cent reaching 548 USD per ton.
Exports to Singapore increased sharply by 206.34 per cent in volumeand 264.6 per cent in turnover; and 19 per cent in price, reaching 18,367 tons, equivalent to 8.33 million USD with the price of 453.8 USD per ton.
In contrast, exports to Thailand market fell sharply by over 99% in both volume and turnover, but prices increased by 18.6%, reaching 99 tons, equivalent to USD 0.06 million, priced at 614.7 USD per ton.
CK
Source: VITIC

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