Free trade deal boosts Vietnam's petrol imports from Korea
Sunday, 10:04, 13/08/2017
Between January and July this year, Vietnamese firms imported around 1.72 million tons of petroleum from the Republic of Korea, marking a jump of 200% against the same period last year, latest data from Vietnam's customs showed.
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Meanwhile, petrol imports from traditional market China, which face a 20 percent tariff, witnessed an on-year decrease of 18% to 600,000 tons.
In total, Vietnam imported 7.55 million tons of petroleum worth $3.9 billion so far this year, marking a 34.2 percent jump in value from the same period last year.
Singapore remains Vietnam's the biggest petroleum supplier with 3.06 million tons. Petrol imports from ASEAN countries made up nearly 70 percent of Vietnam's total imports.
Vietnam exported around 1.2 million tons of petroleum in the first seven months, down 2 percent compared to the same period last year, mostly to Cambodia, Laos and China