Vietnam’s imported petroleum up 26.4% in eight months

Vietnam spent US$5.71 billion importing over 8.6 million tonnes of petroleum over the eight months of this year, up 26.4% year-on-year.

vietnam’s imported petroleum up 26.4% in eight months hinh 0
Illustrative image (Source: VNA)
According to the Vietnam Industry and Trade Information Centre, during the period, the petroleum was mostly imported from Malaysia – accounting for 28.6% of total, reaching 2.23 million tonnes worth US$1.38 billion, up 49.3% in volume and 102.3% in value. 

The Republic of Korea was the second largest supplier of petroleum to Vietnam, making up 25.3% of the total. It sold 1.97 million tonnes worth US$1.42 billion to Vietnam, up 14.5% in volume and 37.5% in value. 

Vietnam also imported 1.81 million tonnes of petroleum valued at US$1.15 billion from Singapore, accounting for 23.2% of the total, down 40.8% in volume and 22.7% in value. 

The country also bought 895,197 tonnes from China, marking a 48.5% rise year-on-year; 619,739 tonnes from Thailand; and 60,361 tonnes from Russia. 

Statistics from the Ministry of Industry and Trade showed that Vietnam’s total imports reached US$21 billion in August, up 0.2% month-on-month and 14.8% year-on-year. 

Over the past eight months, Vietnam’s total imports rose 11.6% annually to US$152.66 billion – US$61.85 billion of which was from domestic firms (up 11.8% from last year’s same period) and US$90.8 billion from foreign-invested ones (up 11.45%).

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