AsemconnectVietnam - According to the figures of the General Department of Customs, Vietnam’s exports of petroleum in the first nine months of this year increased slightly in volume but decreased in turnover and in price over the same period last year.

Meanwhile, the country’s imports of petroleum fell in volume, value and price over the same period of 2018.

Vietnam’s exports of petroleum in the first nine months of 2019
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, Vietnam 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.

Leading petroleum export markets in the first nine months of 2019
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 imports of petroleum in the first 9 months of 2019
In the first three quarters of 2019, the whole country imported 6.88 million tons of petroleum, equivalent to 4.21 billion USD, with the average price of 611 USD per ton.
According to the preliminary statistics figures of the General Department of Customs, in September of 2019, the country imported 593,757 tons of petroleum, equivalent to 359.61 million USD, with the average price of 606 USD per ton, down by 32 per cent in volume, 29 per cent in turnover but increased by 4 per cent in price compared to August of 2019. Compared to September of 2018, it was down by 15 per cent in volume, 28 per cent in turnover and 16 per cent in price.
In the first 3 quarters of 2019, the country imported 6.88 million tons of petroleum, equivalent to 4.21 billion USD, with the average price of 611 USD per ton, down by 26 per cent in volume, 33 per cent in turnover and 9 per cent in price over the same period of 2018.

Leading petroleum import markets in the first nine months of 2019
The country’s imports of petroleum from Malaysia market reached 1.96 million tons, equivalent to 1.67 billion USD, the average price was 594.3 USD per ton, accounting for 28.5 per cent of the country's total petroleum import volume and accounted for 27.7 per cent of the total turnover, down by 26.5 per cent in volume, down by 30.4 per cent in turnover and down by 5.4 per cent in price over the same period of 2018.
South Korea was the second largest market supplying petroleum to Vietnam with 1.72 million tons, equivalent to 1.12 billion USD, at 651.6 USD per ton, accounting for 25 per cent of the total volume and accounting for 26.6 per cent of the total import turnover of petroleum of the country, a decrease of 26.2 per c ent in volume, 34.5 per cent in turnover and down by 11.3 per cent in price over the same period last year.

The third largest market was Singapore. The country’s imports of petroleum from Singapore also decreased in volume, value and price, with a decrease of 28.6 per cent, 36.7 per cent and 11.4 per cent, respectively over the same period last year, reaching 1.48 million tons, equivalent to 844.11 million USD, with the price of 568.8 USD per ton, accounting for 21.6 per cent of the country's total imports of petroleum and accounting for 20.1 per cent of the total value.
The next was the Chinese market with 1.1 million tons, equivalent to 689.76 million USD, the import price reached 629.8 USD per ton, accounting for 16 per cent of the total volume and total turnover; equivalent to the import volume in the same period last year, but down by 8.3 per cent in both turnover and price over the same period last year.
The imports of petroleum from Russia and Thailand in the first 9 months of this year decreased sharply compared to the same period in 2018; in which the imports from Thailand decreased by 45.8 per cent in volume and 50 per cent in turnover over the same period last year, reaching only 516,251 tons, equivalent to 321.33 million USD. Petroleum imports from Russia decreased by 80.1 per cent in volume and by 85.8 per cent in turnover, reaching 12,007 tons, equivalent to 7.29 million USD.
Particularly, petroleum imported from Hong Kong market reached only 563 tons, equivalent to 0.26 million USD but compared to the same period last year, it increased sharply by 452 per cent in volume and 325.7per cent in turnover.
CK
Source: VITIC