AsemconnectVietnam - In the first month of this year, Vietnam’s exports of petroleum fell both in volume and in value over the same period last year.

Meanwhile, the country’s imports of petroleum increased in volume, value and price year – on – year.

Vietnam’s exports of petroleum fell in January of this year
Vietnam’s exports of petroleum to Cambodia plummeted by 35.6 per cent in volume and 24.6 per cent in turnover over the same month last year.
According to the preliminary statistics of the General Department of Customs, the exports of petroleum products of the whole country in January of 2020 reached 263.021 tons, earning 169.36 million USD with the average price of 643.9 USD per ton, down by 10.4 per cent in volume, and 3.8 per cent in turnover but up by 7.46 per cent in price compared to December of 2019. In comparison with the same month of 2019, the figure increased by 11.7 per cent in volume, 30.2 per cent in turnover and up by 16.6 per cent in price.

Leading petroleum export markets in January
The country’s exports of petroleum to Chinese market accounted for nearly 26 per cent of the total volume and total petroleum export turnover of the country, with 67,107 tons, equivalent to 43.3 million USD, the average price of 645.2 USD per tons, down by 4.7 per cent in volume, but up by 3.5 per cent in turnover and up by 8.7 per cent in price compared to January of 2019. Cambodia was the second largest market of Vietnam's petroleum consumption with 55,282 tons, equivalent to 36.45 million USD, and the price of 659.4 USD per ton, accounting for over 21 per cent of the total volume and total export turnover, down sharply by 35.6 per cent in volume, and 24.6 per cent in turnover but up by 17 per cent in price over the same month last year.

Meanwhile, the exports of petroleum to Singapore accounted for 5 per cent of the country's total petroleum export volume and accounted for 4.4 per cent of the total turnover, reaching 13,205 tons, equivalent to 7.39 million USD with the price of 559.3 USD per tons, up by 6.7 per cent in volume, 29.6 per cent in turnover and up by 21.4 per cent in price compared to January of 2019.
Besides, the exports to several other export markets also dropped sharply: to South Korea - dropped by 90.5 per cent in volume, by 86.9 per cent in turnover, reaching 3,346 tons, equivalent to 2.29 million USD; to Russia - decreased by 17.9 per cent in volume and by 18.8 per cent in turnover, reaching 4,761 tons, equivalent to 3.46 million USD; to Malaysia - decreased by 15.3 per cent in volume, by 26 per cent in value, reaching 10,500 tons, equivalent to 3.5 million USD and to Laos - decreased by 49.2 per cent in volume, down by 43.1 per cent in turnover, reaching 6,643 tons, equivalent to 4.24 million USD.

Vietnam’s imports of petroleum increased sharply in January of this year
In January of 2020, Vietnam’s petroleum imports increased in volume, turnover and prices compared to January of 2019, with increases of 17.5 per cent, 34 per cent and 14 per cent, respectively.
According to the preliminary statistics figures of the General Department of Customs, in the first month of 2020, the country imported 756,431 tons of petrol and oil of all kinds, valued at 473.9 million USD, with the average price of 626.5 USD per ton, down by 20.6 per cent in volume, down by 15.7 per cent in turnover but up by 6.2 per cent in price compared to December of 2019. In comparison with the first month of 2019, the volume, turnover and price increased by 17.5 per cent, 34 per cent and 14 per cent, respectively.

Leading petroleum import markets in January of 2020
In the first month of this year, petroleum imports from Korea - the largest market increased very strongly by 94.1 per cent in volume, 122.2 per cent in turnover and 14.5 per cent in price compared to January of 2019 with reached 180,097 tons, equivalent to 118.02 million USD, the average price of 655.3 USD per ton, accounting for 23.8 per cent of the country's total import volume of petroleum and accounting for 24.9 per cent of the total turnover.
The second largest market was Singapore, accounting for 25.7 per cent of the total volume and accounting for 23.6 per cent of the total petroleum import turnover of the country, reaching 194,614 tons, equivalent to 112.04 million USD, with the price of 575.7 USD per ton, up by 32.4 per cent in volume, 40.8 per cent in turnover and by 6.4 per cent in price compared to January of 2019.

Petroleum import from China reached 163,377 tons, equivalent to 106.14 million USD, accounting for 21.6% of the total volume and accounting for 22.4% of the total petroleum import turnover of the country, up 53, 1% in volume increased 72.3% in turnover compared to the first month of the previous year. Import price reached 649.6 USD / ton, up 12.5%.
Particularly, petroleum imported from Malaysia in the first month of this year plummeted 54.9% in volume, down 53.3% in turnover but 3.4% in price compared to January 2019, reaching 95,213 million tons. , equivalent to US $ 50.95 million, priced at US $ 534 / ton, accounting for 12.6% of the country's total import volume of petroleum and accounting for 10.7% of total turnover.
Besides, Vietnam also imported gasoline from Thailand 81,290 tons, equivalent to 50.64 million USD; from Russia 40,887 tons, equivalent to 35.69 million USD.
CK
Source: VITIC