Tuesday, September 17,2019 - 9:30 GMT+7  Việt Nam EngLish 

Exports of crude oil increased in volume in 7 months 

 Thursday, September 12,2019

AsemconnectVietnam - According to the preliminary statistics of the General Department of Customs, in the first 7 months of 2019, the whole country exported 2.36 million tons of crude oil worth of 1.24 billion USD, with the average export price of 525.3 USD per ton, up by 5.6 per cent in volume, but down by 1.5 per cent in turnover and 6.8 per cent in price over the same period of 2018.

Particularly, in July of 2019, 318,587 tons of crude oil was exported, equivalent to 175.21 million USD, the average price was 550 USD per ton, down by 2.9 per cent in volume, 5.6 per cent in turnover and 2.8 per cent in price compared to June of 2019. As compare to the same month of 2018, the figure also decreased by 23.3 per cent in volume, 27.1 per cent in turnover and 4.9 per cent in price.

The country’s exports of crude oil to the Southeast Asia market - Vietnam's leading crude oil consumption market increased by 22.9 per cent in volume and 14.6 per cent in turnover over the same period of 2018, reaching 872.377 million tons, equivalent to 456.66 million USD, accounting for 37 per cent of the total volume and total crude oil export turnover of the whole country. However, the export price to this market decreased by 6.8 per cent to 523.5 USD per ton.
Thailand was leading the Southeast Asian list, accounting for 49 per cent of the total volume with 430,425 tons, equivalent to 221.98 million USD; the export price reached 515.7 USD per ton, down by 12.9 per cent in volume, 21 per cent in turnover and 9.3 per cent in price over the same period last year. In contrast, exports to Malaysia market increased sharply by 203.8 per cent in volume, 196.3 per cent in turnover, reaching 240,558 tons, equivalent to 125.25 million USD, accounting for over 27 per cent of the total volume and the export price reached 520.7 USD per ton, down by 2.5 per cent in price over the same period last year. The exports to Singapore increased by 47.7 per cent in volume, increased by 45.5 per cent in turnover with 201,394 tons, equivalent to 109.43 millionUSD, accounting for over 23 per cent of total volume and total turnover, the export price decreased by 1.5 per cent to 543.3 USD per ton.

After Southeast Asia, the exports to Chinese market reached 838,016 tons, equivalent to 433.13 million USD, the price was at 516.9 USD per ton, accounting for 35 per cent of the total volume and total crude oil export turnover of the country, up by 21.9 per cent in volume, 11.5 per cent in turnover but down by 8.5 per cent in price over the same period last year.

The exports of crude oil to Japan also achieved a good growth rate of 69.3 per cent in volume and 59.7 per cent in turnover, reaching 367,967 tons, equivalent to 198.92 million USD, accounting for 16 per cent of the total quantity and total value; however, the export price fell by 5.7 per cent, reaching 540.6 USD per ton.
In addition, Vietnam also exported 105,404 tons of crude oil to Australia market in the first 7 months of this year, reaching 59.37 million USD, a sharp decrease of over 75 per cent in both quantity and turnover over the same period of 2018. Meanwhile, the exports to the Korean market reached 80,720 tons, equivalent to 59.37 million USD, but it increased strongly by 99.5 per cent in volume and 87.4 per cent in turnover over the same period last year.
 
Vietnam’s exports of crude oil in the first 7 months of 2019 – source: the General Department of Customs 
 
 
 
Market
First 7 months of 2019
 
+/- vs. same period of 2018 (%)
 Volume (ton)
 
Value (USD)
 
 Volume
 
Value
 Total
 
2,357,773
 
1,238,366,343
 
 
5.61
-1.52
South East Asia
872,377
456,660,804
22.9
14.58
China
838,016
433,126,358
21.9
11.51
Thailand
430,425
221,981,448
-12.92
-21.03
Japan
367,967
198,915,301
69.33
59.67
Malaysia
240,558
125,253,964
203.79
196.3
Singapore
201,394
109,425,392
47.71
45.53
Australia
105,404
59,370,676
-75.03
-75.32
South Korea
80,720
44,645,842
99.5
87.37
  CK Source: VITIC 

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