Vietnam’s exports and imports of petroleum in first half of 2019
Friday, August 16,2019
AsemconnectVietnam - In the first half of this year, Vietnam’s exports of petroleum increased slightly over the same period last year, according to the General Department of Customs.
Meanwhile, the country’s imports of petroleum in the first half of this year saw decrease.
Vietnam’s exports of petroleum in June and first half of 2019
According to the statistics figures of the General Department of Customs, in June of 2019, Vietnam’s petroleum exports dropped sharply after three consecutive months of increase, reaching 195,500 tons, equivalent to 117.33 million USD, up by 37.3 per cent in volume and by 38.7 per cent in turnover compared to May of 2019; and the export price reached 600.2 USD per ton, down by 2.2 per cent compared to May of 2019 and by 10.1 per cent compared to June of 2018.
Generally, in the first 2 quarters of 2019, Vietnam’s petroleum exports increased slightly by 3.7 per cent in volume, 1.1 per cent in turnover but down by 2.5 per cent in comparison with the same period last year, reaching 1.66 million tons, equivalent to 1.02 billion USD, the average price was at 615.8 USD per ton.
Leading petroleum export markets in first half of 2019
Cambodia, China, Thailand, Malaysia were the top 4 consumer markets with over 100,000 tons of petroleum imported from Vietnam in the first 6 months. The country’s exports of petroleum to Cambodia reached 400,970 tons worth of 241.47 million USD, and the average price was at 602.2 USD per ton, accounting for 24.2 per cent of the total volume of petroleum exports of the country and accounting for 23.6 per cent of the total turnover, up by 8.2 per cent in volume but down by 0.9 per cent in turnover and 8.4 per cent in price over the same period last year.
Petroleum exports to the Chinese market reached 296,776 tons, equivalent to 203.23 million USD, the average price was at 684.8 USD per ton, accounting for 17.9 per cent of the total volume and accounting for 19.9 per cent of the total turnover, up by over 33.9 per cent in volume, 32.4 per cent in turnover but down slightly by 1.1 per cent in price over the same period last year.
The exports to Thailand market in the first 6 months of 2019 increased strongly by 306.1 per cent in volume and 329.7 per cent in turnover over the same period last year, reaching 105,114 tons, equivalent to 57.89 million USD, accounting for 6.3 per cent of the total volume and 5.7 per cent of the total turnover; the export price to Thailand also increased by 5.8 per cent, reaching an average of 550.8 USD per ton.
Meanwhile, the exports to Malaysia also increased by 58.7 per cent in volume and 71.4 per cent in turnover, reaching 104,487 tons, equivalent to 45.09 million USD, accounting for 6.3 per cent of the total volume and accounting for 4.4 per cent of the total turnover; the export price increased by 8 per cent, reaching an average of 431.6 USD per ton.
In the first 6 months of this year, the most outstanding market in terms of export growth was the Philippines market, although the export volume was not high, only 1,007 tons, equivalent to 0.61 million USD, but increased sharply by 537.3 per cent in volume and 434.5 per cent in turnover; while the exports to Singapore also increased sharply by 305.3 per cent in volume and 279.5 per cent in turnover, reaching 82,385 tons, equivalent to 34.53 million USD.
Indonesia did not participate in the export market for 3 consecutive months (April, May, June), so in the first 6 months, the country’s exports of petroleum to Indonesia reached only 271 tons, equivalent to 0.16 million USD, a sharp decline of over 50 per cent in both quantity and turnover over the same period last year.
Vietnam’s imports of petroleum in first half of 2019
In the first 2 quarters of 2019, Vietnam imported 4.39 million tons of petroleum worth of 2.72 billion USD, down by 38 per cent in volume and 41.8 per cent in turnover over the same period of 2018.
According to the preliminary statistics figures of the General Department of Customs, the country’s petroleum imports in the recent 2 months dropped continuously. In May of 2019, the imports of petroleum decreased by 19.3 per cent in volume and 20.4 per cent in turnover; and in June of 2019 the imports of petroleum decreased by 33.4 per cent in volume, 40.9 per cent in turnover compared to the previous month, reached 530,196 tons, equivalent to 305.63 million USD.
In the first 2 quarters of 2019, the whole country imported 4.39 million tons of petroleum worth of 2.72 billion USD, down by 38 per cent in volume, 41.8 per cent in turnover compared to the first 2 quarters of 2018. The average price was 618 USD per ton, down by 6.2 per cent.
Notably, while petroleum imports from all markets in the first 6 months of this year declined both in volume and turnover over the same period last year. Hong Kong imported only 563 tons, equivalent to 0.26 million USD, but compared to the same period last year, it increased strongly by 452 per cent in volume and 325.7 per cent in turnover; however, the import price decreased by 22.9 per cent, reaching 463.4 USD per ton.
Leading petroleum import markets in first half of 2019
Vietnam imported the most petroleum from the Malaysian market, with 1.22 million tons, worth of 722.13 million USD, accounting for 27.8 per cent of the total petroleum imports of the country and accounting for 26.6 per cent of the total turnover, down by 39.5 per cent in volume and 41.6 per cent in turnover, with the price of 592 USD per ton, down by over 3.5 per cent.
The amount of petroleum imported from Singapore reached 1.09 million tons, equivalent to 637.54 million USD, accounting for over 24.9 per cent of the total volume and 23.5 per cent of the total import turnover, down by 35.5 per cent in volume and 40.9 per cent in turnover, with the average price of 582.5 USD per ton, down by 8.4 per cent.
Imports of petroleum from South Korea - the third largest market also fell sharply by 47 per cent in volume, 50 per cent in turnover and 5.7 per cent in price over the same period last year, reaching 978,196 tons, worth of 660.86 million USD, with the average price of 675.6 USD per ton, accounting for nearly 22.3 per cent of the total volume and 24.4 per cent of the total turnover.
In addition to the above 3 large markets, the imports of petroleum from the Chinese market accounted for over 16 per cent of the total volume and total turnover, reaching 706,585 tons, equivalent to 449.68 million USD with the price of 636, 4 USD per ton, down by 10.6 per cent in volume, 5.8 per cent in price, and 15.8% in turnover.
Petroleum imported from Russia dropped strongly by 84.4 per cent in volume, 29.8 per cent in price, and 89 per cent in turnover to only 563 tons, equivalent to 0.26 million USD with the price of 463.4 USD per ton.
CK
Source: VITIC
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