According to preliminary statistics figures of the General Department of Customs, in February 2019, the whole country imported 500,614 tons of petroleum, worth of 291.75 million USD, down by 22.2 per cent in volume and 17.5 per cent in turnover compared to January 2019; the figure decreased by 52.3 per cent in volume and 55.9 per cent in turnover compared with the same period in 2018.

In the first 2 months of 2019, petroleum imports into Vietnam decreased by 47.7 per cent in volume and 53.1 per cent in turnover over the same period last year, reaching 1.15 million tons, equivalent to 655, 35 million USD. The average import price was 567.6 USD per ton, down by 10.4 per cent.

Malaysia was leading the list of petroleum import markets in the period with 315,076 tons, worth of 166.25 million USD, accounting for 27.3 per cent of the total imported petroleum volume of the whole country and for 25.4 per cent of the total turnover, dropping sharply by 55.2 per cent in volume and 60 per cent in turnover over the same period last year. The price of petroleum imported from this market also decreased by 10.7 per cent, reaching an average of 527.7 USD per ton.

Meanwhile, the imports from Singapore market - the second largest market also decreased by 20.3 per cent in volume and 26.5 per cent in turnover over the same period last year, reaching 310,263 tons, worth of 173.07 million USD, accounting for over 26 per cent in the total volume and total turnover of the whole country. The import price fell by 7.8 per cent, reaching an average of 557.8 USD per ton.

The imports of petroleum from the Chinese market increased by 4.7 per cent in volume, reached 222,544 tons, but decreased by 8.2 per cent in price, reaching an average of 602.4 USD per ton, and the turnover also decreased by 3.8 per cent, reached 134.06 million USD, accounting for 19.3 per cent of the total volume and accounted for 20.5 per cent of the total turnover.

The imports from Korea decreased in price, quantity and turnover, with the corresponding decrease of 13.3 per cent, 73.5 per cent and 77.1 per cent with 164,718 tons, worth of 96.51 million USD, and the average price of 585.9 USD per ton.