AsemconnectVietnam - According to the preliminary statistics figures of the General Department of Customs, in the first 5 months of this year, Vietnam's petroleum imports reached 4,645,101 tonnes, worth of 3.79 billion USD.

Also in the first 5 months of the year, Vietnam imported nearly 1.26 million tonnes of liquefied gas, worth of over 819.35 million USD.
Vietnam's petroleum imports in May and the first 5 months of 2024
According to the preliminary statistics figures of the General Department of Customs, Vietnam’s petroleum imports in May of 2024 decreased by 17.8% in volume and 24.9% in turnover compared to the previous month, reaching 945,976 tonnes, worth of 731.6 million USD.
Overall, in the first 5 months of 2024, the amount of imported petroleum reached 4,645,101 tonnes, worth of 3.79 billion USD.
Vietnam's main petroleum import markets in May and the first 5 months of 2024
Vietnam imported the most petroleum from Malaysia in the first 5 months of 2024, accounting for more than 30% of total import volume and turnover, reaching 1,415,056 tonnes, worth of 1.15 billion USD, an increase of 112.7% in volume and increased by 123.2% in turnover over the same period last year. In May of 2024 alone, the country’s imports of petroleum increased by 22.7% in volume and 6.5% in turnover compared to April of 2024, reaching 295,190 tonnes, worth of 227.1 million USD.
The next was the South Korean market, accounting for more than 29-30% of total import volume and turnover in the first 5 months of 2024, reaching 1,409,617 tonnes, worth of 1.1 billion USD, down by 15.8% in volume and decreased by 18.9% in turnover. In May of 2024 alone, the country’s imports of petroleum reached 347,641 tonnes, worth of 257.7 million USD, down by 8.4% in volume and by 14.1% in value.
The Singapore market followed the list, accounting for 23-24% of the total import volume and total turnover the first 5 months of 2024, up by 4.5% in volume and up by 7.1% in turnover, reaching 1,104,203 tonnes, worth of 944.3 million USD. In May of 2024 alone, the imports of petroleum from this market decreased by 64.3% in volume and 66.3% in turnover.
The following was the Chinese market. In the first 5 months of 2024, China accounted for more than 10% of total import volume and turnover, up by 24.6% in volume and by 21.6% in turnover, reaching 494,147 tonnes, worth of 358 million USD. In April of 2024 alone, the country’s imports of petroleum from China reached 155,507 tonnes, worth of 414.8 million USD, up by 24.6% in volume and 21.6% in value.
Petroleum imports from Thailand accounted for more than 2% of total volume and total turnover in the first 5 months of 2024, reaching 126,334 tonnes, worth of 107.5 million USD, down by 62.5% in volume and down by 61.8% in value, the average price was 851 USD/tonne. In May of 2024 alone, the country’s imports of petroleum from Thailand reached 41,628 tonnes, worth of 35 million USD, up by 32.2% in volume and 26.7% in value.
Vietnam's liquefied gas imports in May and the first 5 months of 2024
According to the preliminary statistics figures of the General Department of Customs, in the first 5 months of 2024, Vietnam imported nearly 1.26 million tonnes of liquefied gas, worth of over 819.35 million USD, the average price reached 650.6 USD/per tonne, up by 24.9% in volume and 20.6% in turnover but down by 3.5% in price compared to the first 5 months of 2023.
In May of 2024 alone, Vietnam imported 273,021 tonnes of liquefied gas, equivalent to over 169.71 million USD, the average price was 621.6 USD/tonne, up by 5.1% in volume, up by 13.5% in turnover and by 8.1% in price compared to April of 2024.
Vietnam's main liquefied gas import markets in May and the first 5 months of 2024
Liquefied gas of all types imported into Vietnam mainly from three major markets: Qatar, Malaysia and Saudi Arabia; Of which, the most originated from the Qatar market, with 277,703 tonnes, equivalent to over 165.97 million USD, priced at 597.7 USD/tonne, an increase of 202.4% in volume, an increase of 169.9% in turnover but down by 10.7% in price compared to the first 5 months of 2023; accounting for 22.1% of the total volume and 20.3% of the country's total liquefied gas import turnover.
In May of 2024 alone, the country’s imports of liquefied gas from this market reached 41,902 tonnes, equivalent to over 27.66 million USD, priced at 660 USD/tonne, a sharp decrease of 35.7% in volume but an increase of 0.8% in turnover compared to the previous year and the price increased by 56.8%. In May of 2023, our country did not import liquefied gas from this market.
Malaysian market ranked second with 219,814 tonnes, equivalent to 144.91 million USD, the import price was 659.3 USD/tonne, a sharp increase of 330.7% in volume, an increase of 314.6% in turnover but down by 3.7% in price compared to the first 5 months of 2023, accounting for nearly 18% of total volume and total turnover. In May of 2024 alone, the country’s imports of liquefied gas from this market reached 14,550 tonnes, equivalent to over 10.25 million USD, priced at 704.4 USD/tonne, a sharp decrease of 83% in volume and 78.7% in turnover compared to the previous year, but the price increased by 25%. In comparison to May of 2023, it decreased by 22.2% in volume, decreased by 9.2% in turnover but increased by 16.7% in price.
The next was the Saudi Arabia market with 187,428 tonnes, with 125.44 million USD, price of 669.3 USD/tonne, down by 28.4% in volume, down by 31.2% in turnover and down by 3.8% in price compared to the first 5 months of 2023, accounting for 14.9% of the total volume and 15.3% of the country's total liquefied gas import turnover.
In general, liquefied gas import turnover in the first 5 months of 2024 from most markets increased in both volume and turnover compared to the same period of 2023.
CK
Source: VITIC