In the first 6 months of the year, petroleum exports were at 1.07 million tons, worth 1.02 billion USD, down 7% in volume and up 62.5% in value.
According to preliminary statistics of the General Department of Customs, Vietnam’s petroleum exports in June decreased by 20.6% in volume and 12.5% in turnover compared to the previous month, at 144,502 tons, worth 177,3 million USD.
In the first 6 months, exports were 1.07 million tons, worth 1.02 billion USD, down 7% in volume and up 62.5% in value. Cambodia is still Vietnam’s largest petroleum export market in the first half of the year with 389,204 tons, worth 403.7 million USD, accounting for 36.4% of total volume and 39.5% of total export turnover. In June alone, exports to this market stood at 53,733 tons, worth 74.1 million USD.
Korea accounted for more than 5% of the total volume and total turnover with 57,848 tons, turnover of 55.2 million USD in the first half of the year. In June alone, the volume was 4,040 tons, worth $4.6 million. Singapore accounted for 6.2% of the total volume and 5.0% of the total turnover with 66,693 tons, with a turnover of USD 51.9 million. Particularly in June, the export volume was 185 tons, worth 233,800 USD.
In the opposite direction, in the first 6 months, imported petroleum was 4.8 million tons, worth 5.02 billion USD, up 17.6% in volume and 128.6% in turnover over the same period in 2021. In June alone, petroleum imports to Vietnam decreased by 19.4% in volume and 8.7% in turnover compared to the previous month and at 617,834 tons, worth 812.1 million USD.
Vietnam imported the most petroleum from Korea in the first 6 months, accounting for 41.2% of the total import turnover with 2.06 billion USD. Other major markets are Malaysia, Singapore and Thailand. In the first 6 months of this year, Vietnam had a trade deficit of 4 billion USD for petroleum products.
@ Cafef
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Source: Vietnam Insider