Tuesday, November 12,2019 - 6:29 GMT+7  Việt Nam EngLish 

Exports of petroleum to South East Asia increased sharply 

 Tuesday, October 22,2019

AsemconnectVietnam - Vietnam’s exports of petroleum to the Southeast Asia - Vietnam's leading petroleum consumption market increased by 18.3 per cent in volume and 4.1 per cent in turnover over the same period last year.

According to preliminary statistics figures of the General Department of Customs, in the first 3 quarters of 2019, Vietnamy exported 2.42 million tons of petroleum, collecting nearly 1.49 billion USD, with the average price of 613 USD per ton, up by 3 per cent in volume, but down by 3 per cent in turnover and 5 per cent in price over the same period of 2018.

In September of 201 alone, the country exported 246,680 tons of petroleum, equivalent to 148.37 million USD, with the average price of 601 USD per ton, down by 9 per cent in both volume and turnover compared to August of 2019 but the price was unchanged. Compared to the same month of 2018, the country’s exports of petroleum increased by 4 per cent in volume but decreased by 8 per cent in turnover and 11 per cent in price.

The exports of petroleum to the Southeast Asia market - Vietnam's leading petroleum consumption market increased by 18.3 per cent in volume and 4.1 per cent in turnover over the same period in 2018, reaching 1.07 million tons, equivalent to 592.82 million USD, accounting for 44.3 per cent of the total volume and 39.9 per cent of the total petroleum export turnover of the country. However, the export price to this market decreased by 12 per cent, reaching 552.2 USD per ton.

In the Southeast Asia, the largest export to Cambodia, accounting for 50.2 per cent of the total volume and 55.2 per cent of the total petroleum export turnover to this block, reached 538,885 tons, equivalent to 327.11 million USD. The export price reached 607 USD per ton, up by 0.7 per cent in volume but down by 9.8 per cent in turnover and 10.4 per cent in price over the same period last year.

In contrast, the exports of petroleum to Singapore increased sharply by 190.5 per cent in volume, 160.3 per cent in turnover, reaching 173,678 tons, equivalent to 78.78 million USD, accounting for over 16.2 per cent of the total volume and accounting for 13.3 per cent of the total turnover. The export price was at 453.6 USD per ton, down by 10.4 per cent over the same period last year. Meanwhile the exports to Thailand increased by 25.4 per cent in volume, 17.4 per cent in turnover, reaching 131,309 tons, equivalent to 71.54 million USD, accounting for over 12 per cent of the total volume and total turnover, the export price decreased by 6.4 per cent, reaching 544.8 USD per ton. The exports to Malaysia increased by 39.7 per cent in volume, 41.1 per cent in turnover, and 1 per cent in price, reaching 141,216 tons, equivalent to 59.64 million USD, with the price of 422.3 USD per ton, accounting for 13.2 per cent of total volume and accounting for 10.1 per cent of total petroleum export turnover to the Southeast Asia market.

After Southeast Asia, the country’s exports of petroleum to Chinese market reached 415,867 tons, equivalent to 290.77 million USD, with the export price of 699.2 USD per ton, accounting for 17.2 per cent of the total volume and 19.6 per cent of the total petroleum export turnover of the country, up by 21.1 per cent in volume, 19.4 per cent in turnover but down by 1.4 per cent in price over the same period last year.

The exports of petroleum to South Korea dropped sharply by 22.7 per cent in volume and by 34.7 per cent in turnover, reaching 66,072 tons, equivalent to 41.3 million USD, the export price decreased by 15.6 per cent, reaching 625.2 USD per ton.
In contrast, petroleum exports to the Philippines in the first 9 months of this year increased sharply by 384 per cent in volume and 304 per cent in turnover over the same period of 2018, although it reached only 1,007 tons, equivalent to 0.61 million USD.
Vietnam’s exports of petroleum in the first 9 months of 2019 – source: the General Department of Customs
Market
First 9 months of 2019
+/- vs. same period of 2018
Volume (ton)
Value (USD)
Volume
Value
 
Total
 
2,424,327
 
1,487,135,374
 
3
 
-3
South East Asia
1,073,495
592,820,638
18.28
4.12
Cambodia
538,885
327,106,482
0.73
-9.76
China
415,867
290,773,918
21.09
19.41
Singapore
173,678
78,780,954
190.49
160.29
Thailand
131,309
71,539,296
25.41
17.34
Malaysia
141,216
59,639,536
39.7
41.07
Laos
87,129
54,976,687
-17.29
-23.98
South Korea
66,072
41,304,946
-22.68
-34.73
Russia
35,650
26,670,154
10.76
5.04
The Philippines
1,007
614,516
384.13
304.02
Hong Kong
767
382,100
 
 
Indonesia
271
163,167
-82.12
-82.15
CK
Source: VITIC

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