Petroleum trade revenue in first four months of 2019
Tuesday, May 21,2019
AsemconnectVietnam - In the first 4 months of 2019, Vietnam’s exports of petroleum increased both in volume and in value over the same period last year to 1,15 million tons worth of over 709 million USD.
Meanwhile, the imports of petroleum decreased both in volume and in value compared to the same period of 2018, reaching 3.07 million tons worth of 1.89 billion USD.
Petroleum exports reached 709.48 million USD in first four months
According to the statistics figures of the General Department of Customs, the exports of Vietnam's petroleum products to foreign markets in the first 4 months of 2019 increased sharply by 57.7 per cent in volume and 61.3 per cent in value over the same period of 2018, reaching 1.15 million tons, equivalent to 709.48 million USD.
In April 2019 alone, 306,049 tons were exported, equivalent to 187.16 million USD, up by 8.4 per cent in volume and 6.9 per cent in turnover over the previous month and also increased strongly by 39.9 per cent in volume and 41.6 per cent in turnover compared to April of 2018.
The export price of petroleum in April of 2019 decreased by 1.4 per cent compared to March of 2019 but increased slightly by 1.3 percent compared to April of 2018, reaching 611.5 USD per ton. In the first 4 months of the year, the average petroleum export prices reached 615.8 USD per ton, up by 2.3 per cent over the same period last year.
Leading petroleum export markets in the first four months
Cambodia ranked first in Vietnam's petroleum consumption market, accounting for 23 per cent of the total volume and total petroleum export turnover of the whole country, with 266,190 tons, equivalent to 157.9 million USD, an increase of 11.9 per cent in volume and 5.6 per cent in turnover over the same period, the export price to this market reached 593.2 USD per ton, down by 5.7 per cent.
China ranked second with 183,149 tons, equivalent to 122.96 million USD, accounting for 15.9 per cent of the total volume and accounting for 17.3 per cent of the total petroleum export turnover of the whole country, increasing by over 17 per cent in volume and turnover over the same period last year; the export price reached 671.4 USD per ton, up by 0.4 per cent.
The next was the Korean market with 52,310 tons, equivalent to 31.21 million USD, up by 8.8 per cent in volume and 0.8 per cent in turnover over the same period, the export price reached 577.9 USD per ton, down by 22 per cent.
Especially, the exports of petroleum to Singapore market were at only 55,189 tons, equivalent to 23.11 million USD, but compared to the first 4 months of the previous year, it rocketed by 768.3 epr cent in volume and 834.2 per cent in turnover; the export price also increased by 7.6 per cent to reach 418.7 USD per ton.
The exports to Thailand market also increased by 103.4 per cent in volume and 106.4 per cent in turnover, reaching 52,577 tons, equivalent to 27.73 million USD.
However, the exports to Indonesia dropped sharply by nearly 41 per cent in both volume and turnover, reaching 271 tons, equivalent to 0.16 million USD.
Imports of petroleum decreased in volume and in value
In the first 4 months of 2019, the imports of petroleum decreased by 29.8 per cent compared to the same period of 2018, reaching 3.07 million tons and the value also decreased by 33.1 per cent to 1.89 billion USD.
According to the preliminary statistics figures of the General Department of Customs, in April of 2019, the petroleum imports continued to increase by 8.5 per cent in volume and 15.7 per cent in value compared to March of 2019, reached 9885,853 tons, equivalent to 649.91 million USD. However, the figures saw only a slight increase of 1 per cent in volume and 2.9 per cent in value compared with the same month of 2018. In the first 4 months of 2019, the amount of imported petroleum decreased by 29.8 per cent compared to the same period of 2018, reaching 3.07 million tons and the value also decreased by 33.1 per cent, reaching 1.89 billion USD.
The petroleum import price in April of 2019 reached 659.2 USD per ton, up by 6.6 per cent compared to March of 2019 and by 1.9 per cent compared to April of 2018. The average import price in the first 4 months reached 614.9 USD per ton, down by 4.7 per cent over the same period last year.
Major petroleum import markets in the first four months
Malaysia was the leading petroleum import market of Vietnam, accounting for 28.6 per cent of the total imported petroleum volume of the country and accounting for 27.4 per cent of the total import value with 878,007 tons, equivalent to 516.71 million USD, down by 32.7 per cent in both volume and value compared to the same period of 2018. However, the import price was only equivalent to the same period last year, reaching 588.5 USD per ton. Particularly in April 2019, the imports of petroleum from
Malaysia also decreased by 13.5 per cnet in volume and 8.5 per cent in value compared to March of 2019, reaching 253,064 tons, equivalent to 162.25 million USD; decreased by 21.4 per cent in volume and 16.6 per cent in value compared with April of 2018.
Malaysia also decreased by 13.5 per cnet in volume and 8.5 per cent in value compared to March of 2019, reaching 253,064 tons, equivalent to 162.25 million USD; decreased by 21.4 per cent in volume and 16.6 per cent in value compared with April of 2018.
Petroleum imported from Singapore in April of 2019 increased strongly by 43.8 per cent in volume and 51.7 per cent in value compared to March of 2019, reaching 256,251 tons, equivalent to 156.88 million USD; increased by 21.7 per cent in both quantity and value over the same period last year. However, in the first 4 months of 2019, the petroleum imports from Singapore still decreased by 18.6 per cent in volume and 21.6 per cent in value, reaching 744,643 tons, equivalent to 434.69 million USD, accounting for 24 per cent of the total volume and total petroleum import value of the whole country; the import price reached 583.8 USD per ton, down by 3.7 per cent.
The imports of petroleum from the Korean market also fell sharply by 43.4 per cent in volume, and 46.1 per cent in value over the same period last year, reaching 653,994 tons, valued at 434.66 million USD, accounting for 21.3 per cent of the total volume and 23.1 per cent of the total value; the import price decreased by 4.8 per cent, reaching 664.7 USD per ton.
Meanwhile, the imports of petroleum from the Chinese market also decreased by 0.4 per cent in volume, 2.6 per cent in price, and 3 per cent in value to 501,217 tons, equivalent to 319.2 million USD, for 636.8 USD per ton; accounting for nearly 17 per cent of total volume and total value.
The imports from Thailand plummeted by 39.4 per cent in volume 1.6 per cent in price, 40.4 per cent in value, gaining 238,830 tons, equivalent to 148.78 million USD, priced at 623 USD per ton; accounting for nearly 8 per cent of total volume and total value.
In addition, petroleum was also imported from Japan and Taiwan but with a small volume. Specifically, the country imported 14,256 tons of petroluem from Japan, worth of 8.37 million USD; 7,890 tons from Taiwan, worth 5.45 million USD.
CK
Source: VITIC
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