AsemconnectVietnam - Last year, Vietnam’s exports of petroleum decreased in volume, in turnover as well as in price in comparison with 2018.

The country’s imports of petroleum also fell sharply in volume, in value and in price year – on – year.

Vietnam’s exports of petroleum in 2019 increased
In 2019, the country exported 3.11 million tons of petroleum, earning nearly 1.91 billion USD, the average price of 613.1 USD per ton.
According to the statistics figures of the General Department of Customs, after a sharp decline in October of 2019, the country’s exports of petroleum increased sharply again in the last two months of 2019. In November of 2019, the country’s exports of petroleum increased by over 30 per cent in both volume and value compared with the previous month, and in December of 2019, the exports increased by 33.4 per cent in volume and 31.8 per cent in turnover over November, reaching 293,657 tons, equivalent to 176.12 million USD. The export price reached 599.8 USD per ton, down by 1.2 per cent compared to November of 2019 and down by 3.5 per cent compared with the same month last year.
For the whole year, the country exported 3.11 million tons of petroleum, earning nearly 1.91 billion USD, with the average price of 613.1 USD per ton, down by 0.2 per cent in volume, down by 5.8 per cent in terms of turnover and down by 5.6 per cent in price compared to 2018.

Leading petroleum export markets in 2019
Vietnam's petroleum was exported mainly to Southeast Asia, China and South Korea. The Southeast Asian market accounted for 44.1 per cent of the country's total petroleum exports and accounted for 39.5 per cent of the total turnover, reaching 1.37 million tons, equivalent to 753.23 million USD, up by 10.5 per cent in volume but down by 2.8 per cent in turnover over the previous year.
Behind the Southeast Asia market was the Chinese market, accounting for 17.4 per cent of the country's total export volume of petroleum and accounting for 20.2 per cent of the total turnover, reaching 540,500 tons, equivalent to 384.39 million USD. The average price was at 711.2 USD per ton, up by 14 per cent in volume, up by 15.9 per cent in turnover and up by 1.7 per cent in price compared to 2018.
Petroleum exports to South Korea dropped sharply in volume, turnover and price, with the corresponding decreases of 30.8 per cent, 42.5 per cent and 16.9 per cent compared to 2018, reaching 75,618 tons, equivalent to over 48 million USD, and the price of 634.8 USD per ton.

Vietnam’s imports of petroleum in 2019
According to the preliminary statistics of the General Department of Customs, Vietnam’s petroleum imports of all kinds in 2019 reached 9.8 million tons, valued at 5.95 billion USD, with the average price of 607.7 USD per ton, down both in volume and in value and price compared to 2018, with respective decreases of 14.3 per cent, 22.2 per cent and 9.1 per cent.
Particularly in December of 2019, the country imported 952,468 tons of petrol, equivalent to 561.85 million USD, with the average price of 589.9 USD per ton, down by 4.7 per cent in volume, down by 5.3 per cent in turnover and down by 0.6 per cent in price compared to November of 2019, but compared to the same month in 2018, there was a sharp increase of 36.3 per cent in volume, 46.4 per cent in turnover and 7.4 per cent in price.

Leading petroleum import markets in 2019
The leading petroleum import markets of Vietnam were South Korea, accounting for 29 per cent of the country's total import volume and accounting for 31 per cent of the total value, with 2.84 million tons, equivalent to 1.85 billion USD, and the average price of 650.7 USD per ton, up by 17.2 per cent in volume, up by 3 per cent in turnover but down by 12.1 per cent in price compared to 2018. Malaysia was the second largest market with 2.46 million tons, equivalent to 1.43 billion USD, with the price of 582.5 USD per ton, accounting for 25 per cent of total volume and total import turnover of petroleum, down by 25.1 per cent in volume, down by 30.2 per cent in value and down by 6.8 per cent in price compared to 2018.

Petroleum imported from Singapore market accounted for 21.9 per cent of the country's total import volume and accounted for 20.3 per cent of the total value, reaching 2.15 million tons, equivalent to 1.21 billion USD, the price of 561.9 USD per ton, down by 10.4 per cent in volume, down by 21 per cent in turnover and down by 11.9 per cent in price compared to 2018.
The petroleum imports from China reached 1.56 million tons, equivalent to 975.73 million USD, accounting for 16 per cent of the total volume and total petroleum import value of the country, up by 7.1 per cent in volume but decreased by 2.6 per cent in value over the previous year. The import price reached 624.5 USD per ton, down by 9 per cent.
Besides, Vietnam also imported petrol from Thailand 634.02 tons, equivalent to 393.06 million USD; from Russia 54,546 tons, equivalent to 36.67 million USD; from Taiwan 22,905 tons, equivalent to 14.85 million USD; Japan 16,340 tons, equivalent to 9.38 million USD; Hong Kong 563 tons, equivalent to 0.26 million USD.
CK
Source: VITIC