AsemconnectVietnam - Vietnam’s exports of crude oil increased in volume but decreased in turnover and price in the first seven months of this year, showed the statistics figures of the General Department of Customs.

Meanwhile, the exports of petroleum increased in volume and in turnover but decreased in price compared with the same period last year.

Vietnam’s exports of crude oil in first seven months of 2019
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.

Leading export markets of crude oil in first seven months of 2019
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 million USD, 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 petroleum in first 7 months of 2019
In the first 7 months of 2019, Vietnam’s petroleum exports increased by 8.8 per cent in volume and by 5.4 per cent in turnover but decreased by 3.1 per cent in price compared to the first 7 months of 2018.
According to the statistics figures of the General Department of Customs, after a sharp decline in June of 2019, Vietnam’s exports of petroleum increased again in July of 2019, up by 29.6 per cent in volume compared to the previous month ( reached 253,432 tons) and by 32 per cent in turnover (reaching 154.87 million USD); export prices also increased by 1.8 per cent, reaching 611.1 USD per ton.

In the first 7 months of 2019, the whole country exported 1.91 million tons of petrol and oil, earning over 1.17 billion USD, the average price was 614.5 USD per ton, increased by 8.8 per cent in volume, and by 5.4 per cent in turnover but down by 3.1 per cent in price compared to the first 7 months of 2018.

Leading petroleum export markets in first seven months of 2019
Vietnam exported petroleum mostly to Southeast Asia, China and South Korea.
Southeast Asia alone accounted for 47.7 per cent of the country's total petroleum export volume and for 42.9 per cent of the total turnover, reaching 911,880 tons, equivalent to 503.58 million USD, up by 40.8 per cent in volume and by 25 per cent in turnover over the same period last year.
In Southeast Asia, Vietnam’s exports of petroleum to Cambodia accounted for 48.8 per cent of the total volume and for 53.3 per cent of the total turnover, with 444,995 tons, equivalent to 268.38 million USD, the average price was 603.1 USD per ton, up by 3 per cent in volume but down by 6.6 per cent in turnover and 9.3 per cent in price.

Exports to Thailand increased strongly by 406.9 per cent in volume and increased by 430.4 per cent in turnover, reaching 131,280 tons, equivalent to 71.51 million USD; the export prices rose slightly by 4.6 per cent to 544.8 USD per ton.
The country’s exports to Singapore also increased strongly by 338 per cent in volume and by 346.9 per cent in turnover, reaching 140,221 tons, equivalent to 64.38 million USD; the export price increased by 2 per cent to 459.1 USD per ton. In July of 2019 the country’s exports to this market increased by 223 per cent in volume and 336.6 per cent in turnover over the previous month and also increased by 175.9 per cent in volume and 224.7 per cent in turnover compared to July of 2018, reaching 33,090 tons, equivalent to 17.7 million USD.

Exports to Malaysia reached 120,199 tons, equivalent to 51.85 million USD, the export price reached 431.4 USD per ton, an increase of 69 per cent in volume, 80.4 per cent in turnover and 6.7 per cent in price compared with the same period last year.
Behind the Southeast Asian market was the Chinese market, accounting for 15.5 per cent of the country's total petroleum exports and accounting for 17.8 per cent of the total turnover, reaching 295,346 tons, equivalent to 209.48 million USD. The average price was 709.3 USD per ton, up by 6.4 per cent in volume, 10.5 per cent in turnover and 3.8 per cent in price over the same period of 2018.
Meanwhile, the exports of petroleum to the Korean market decreased in volume, turnover and price, with the corresponding decrease of 14.8 per cent, 27.4 per cent and 14.7 per cent compared to the same period last year, reaching 59,638 tons, worth of 36.69 million USD, with the price of 615.2 USD per ton.
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Source: VITIC