AsemconnectVietnam - In the first seven months of this year, Vietnam’s exports of crude oil decreased sharply while the imports of petroleum increased.

Crude oil exports fell 48.1% in first 7 months
Vietnam’s exports of crude oil decreased sharply by 48.1 per cent in quantity and 26.3 per cent in value year – on – year in the first seven months of this year to 2.32 million tons worth of US$1.26 billion, showed the statistics figures of the General Department of Customs.

In July only, the country’s exports of crude oil reached 415,425 tons worth of $240.29 million, up by 32.5 per cent in quantity and 34.4 per cent in value over the previous month. The figure was down by 28.5 per cent in quantity but up by 11 per cent in value month – on – month.

China was the country’s leading crude oil export market of Vietnam in the first seven months of this year with 687,460 tons worth of $388.41 million, fell sharply by 57.1 per cent in quantity and 39.2 per cent in value compared with the same period last year.

The exports of crude oil to Thailand reached 494,299 tons worth of $281.08 million, down by 15 per cent in quantity and 19.9 per cent in value compared with the same period last year.
Meanwhile, the exports to Australia reached 422,062 tons worth of $240.52 million, up by 40.8 per cent in quantity and 100.8 per cent in value; and the exports to Japan fell sharply by 60.5 per cent in quantity and 44.4 per cent in value to 217,306 tons worth of $124.58 million.

In the first seven months of this year, the country’s exports of seafood to the U.S increased by 21.7 per cent in quantity and 61.7 per cent in value to 132,671 tons worth of $68.42 million.
However, the exports of seafood to Malaysia decreased by 80 per cent in quantity and 72.4 per cent in value to 79,185 tons worth of $42.27 million; and to Singapore – down by 73.3 per cent in quantity and 62.3 per cent in value to 136,344 tons worth of $75.19 million.

Petroleum imports increased
Vietnam imported 7.8 million tons of petroleum worth of US$5.16 billion in the first 7 months of this year, increased by 3.4 per cent in quantity and 31.9 per cent in value over the same period last year, showed the statistics figures of the General Department of Customs.

In July, the country’s imports of petroleum decreased by 41.7 per cent in quantity and 41.8 per cent in value month – on – month to 820,439 tons worth of $558.08 million. The figure was down by 30.6 per cent in quantity and 4.7 per cent in value compared with the same month of last year.
The average petroleum import price was at $680.2 per ton in July and $661.5 per ton in the first seven months of this year.

Malaysia was the country’s biggest petroleum import markets in the first seven months of this year with 2.23 million tons worth of $1.38 billion, increased by 49.3 per cent in quantity and 102.3 per cent in value compared with the same period last year, and accounted for 28.6 per cent of the total.

South Korea followed with 1.97 million tons worth of $1.42 billion, up by 14.5 per cent in quantity and 37.5 per cent in value year – on – year; Singapore – 1.81 million tons worth of $1.15 billion, down by 40.8 per cent in quantity and 22.7 per cent in value; China – 895,197 tons, up by 48.5 per cent; Thailand – 619,739 tons, up by 9.2 per cent; Russia – 60,361 tons, up by 144.3 per cent; and Hong Kong (CN) – 102 tons.

In the first seven months of this year, Vietnam’s imports of petroleum from Russia increased sharply by 144.3 per cent in quantity and 262.8 per cent in value to 60,361 tons worth of $51.24 million. Meanwhile, the imports of petroleum from Malaysia, China, Thailand, and South Korea also increased by 102.3 per cent; 99.2 per cent; 45.7 per cent; and 37.5 per cent over the same period last year.
CK
Source: VITIC