Vietnam hit by sharp decline in oil and petrol exports
VOV.VN - Vietnam exported 1.85 million tonnes of oil and petrol during the inital 10 months of the year at a value of US$787.53 million, with the average price being US$462.7 per tonne, marking an annual fall of 33.9% in volume and 30.6% in value, according to the General Department of Vietnam Customs.
October witnessed the export turnover of oil and petrol suffer a decline, although exports to China recorded an increase of 235.5% in volume. In addition, exports to Malaysia increased by 31% in volume and 45.2% in turnover.
The opening ten months of the year saw Cambodia rank first in terms of the leading consumption markets for Vietnamese petroleum, with 519.104 tonnes, equivalent to over US$204.79 million with an average price of US$394.5 per tonne.
Furthermore, China came in second with 218.206 tonnes valued at US$111.14 million.
During the reviewed period, exports of oil and petrol to foreign markets, such as the Philippines, Indonesia, and Russia, all witnessed declines, with the exception of Malaysia which saw an increase in volume.
