AsemconnectVietnam - The preliminary statistics figures of the General Department of Customs showed that, in the first 3 months of 2024, Vietnam's petroleum exports reached 631,310 tonnes, worth of 532.02 million USD, an increase of 13.9% in volume and an increase of 8.9% in value over the same period last year.

Meanwhile, the country's imported petroleum volume in the first 3 months of the year reached 2,558,692 tonnes, worth of 2.1 billion USD, with an average price of 822 USD/tonne.
Vietnam’s petroleum exports the first 3 months of 2024
According to the preliminary statistics figures of the General Department of Customs, Vietnam's petroleum exports in March of 2024 decreased by 13.1% in volume and 11.7% in turnover compared to the previous month, reaching 188,808 tonnes, worth of 160.1 million USD. Overall, in the first 3 months of 2024, the country’s exports of petroleum reached 631,310 tonnes, worth of 532.02 million USD, an increase of 13.9% in volume and an increase of 8.9% in value year – on - year.
Leading petroleum export markets in March and the first 3 months of 2024
Cambodia was still Vietnam's largest petroleum export market in the first 3 months of 2024, with 119,761 tonnes, worth of 100.8 million USD, down by 25.2% in volume and down by 30.1% in value compared with the same period last year, accounting for more than 18% of total export volume and turnover. In March of 2024 alone, it reached 30,847 tonnes, worth of 25.9 million USD, down by 31.7% in volume and 34.4% in value.
The next was the South Korean market, accounting for 9-10% of total volume and total turnover, reaching 60,946 tonnes, with the turnover of 55.5 million USD, up by 14.6% in volume and by 4.9% in value. In March of 2024 alone, it reached 19,352 tonnes, worth of 17.8 million USD.
Petroleum exports to the Chinese market accounted for more than 8-9% of total volume and turnover, reaching 55,447 tonnes, with the turnover reaching 52.8 million USD, an increase of 38.1% in volume and an increase of 33.7% in value year – on - year in the first 3 months of 2024. In March of 2024 alone, the country’s exports of petroleum to China decreased by 8.4% in volume and 7.04% in value.
The next was the Laos market, accounting for more than 5% of total volume and total turnover, reaching 35,978 tonnes, turnover of 29.4 million USD, an increase of 99.6% in volume and an increase of 87.4% in value. In March of 2024 alone, it reached 8,510 tonnes, worth of 6.9 million USD.
Vietnam's petroleum imports in March and the first 3 months of 2024
According to the preliminary statistics figures of the General Department of Customs, petroleum imports to Vietnam in March of 2024 increased by 44.7% in volume and 46.1% in turnover compared to the previous month, reaching 1,076,653 tonnes, worth of 901.7 million USD.
Totally in the first 3 months of 2024, the amount of imported petroleum reached 2,558,692 tonnes, worth of 2.1 billion USD, the average price was 822 USD/tonne.
Vietnam imported the most petroleum from Malaysia in the first 3 months of 2024, accounting for more than 34% of total import volume and turnover, reaching 892,211 tonnes, worth of 722.1 million USD, an increase of 124% in volume and an increase of 122.7% in turnover compared to the same period in 2023.
In March of 2024 alone, the country’s imports of petroleum increased by 46% in volume and 55.7% in turnover compared to February of 2024, reaching 308,268 tonnes, worth of 262.5 million USD.
The next was the South Korean market, accounting for more than 25-26% of total import volume and turnover in the first 3 months of 2024, reaching 682,488 tonnes, worth of 543.3 million USD, down by 34.6% in volume and by 39.7% in turnover. In March of 2024 alone, the country’s imports of petroleum from South Korea reached 350,744 tonnes, worth of 279.3 million USD, up by 107.2% in volume and 105% in value.
The Singapore market ranked third. In the first 3 months of 2024, the country’s imports of petroleum from Singapore accounted for 24-25% of the total import volume and total turnover, up by 2.6% in volume and up by 0.5% in turnover, reaching 623,638 tonnes, worth of 533.1 million USD. In March of 2024 alone, the imports from this market increased by 13.6% in volume and 15% in turnover.
The next was the Chinese market. In the first 3 months of 2024, the country’s imports of petroleum from China accounted for more than 10-11% of total import volume and turnover, down by 4.4% in volume and down by 9.8% in turnover, reaching 278,102 tonnes, worth of 235.8 million USD. In March of 2024 alone, the country’s imports of petroleum from Singapore reached 100,223 tonnes, worth of 100.8 million USD, an increase of 107.5% in volume and an increase of 110.8% in value.
Petroleum imports from Thailand accounted for more than 2% of total volume and total turnover in the first 3 months of 2024, reaching 53,281 tonnes, worth of 45.7 million USD, down by 75.8% in volume and down by 76.4% in value.
CK
Source: VITIC