Vietnam sees sharp decline in petroleum imports in July
In the first seven months of 2018, a total of 7.8 million tons of petroleum products worth US$5.2 billion were imported, up 3.9% in volume and 31.6% in value year-on-year.
Vietnam imported 820,000 tons of petroleum products in July worth US$558 million, down 41.8% in value and 41.7% in volume month-on-month, according to the General Department of Vietnam Customs (GDVC).
Illustrative photo.
|
According to the GDVC, Vietnam mainly imported petroleum products during this period from Malaysia with 2.2 million tons, up 50.5% year-on-year, followed by South Korea with 1.97 million tons, up 11.6% year-on-year.
Notably, imported petroleum products from Singapore in the January - July period saw a sharp decline with 1.81 million tons, down 40.5% year-on-year.
In 2017, Vietnam imported petroleum products the most from Singapore with 4.3 million tons, accounting for 33.5% of Vietnam's total imported volume. Imported value from South Korea stood at the second place with 3.03 million tons.
This year, imported petroleum products from Malaysia make up the largest share of Vietnam's total imported volume.
In May, petroleum imports witnessed the sharpest growth among Vietnam's 54 import groups. Petroleum import turnover in May reached US$873 million tons, up 38.3% month-on-month, for 1.26 million tons, an increase of 28.7% month-on-month in value.
Overall, Vietnam imported a total of 5.7 million tons of petroleum products in the first five months of 2018 worth US$3.71 billion, up 38.6% in value and 13.8% in volume year-on-year.
21:45, 2025/01/15
Hanoi seeks 5% export growth in 2025
The city’s total import-export turnover reached US$60.1 billion in 2024, up 11% year-on-year.
08:41, 2025/01/11
Vietnam-Laos Industrial Park: New direction to strengthen bilateral ties
Numerous Vietnamese projects in various sectors have effectively contributed to Laos' development, creating jobs and improving the livelihoods of tens of thousands of local workers.
22:19, 2025/01/09
Hanoi's foreign trade turnover hits US$60.1bn in 2024
The city will continue to support businesses in exploring new markets, capitalizing on the Free Trade Agreement of which Vietnam is a member.
11:46, 2025/01/09
Vietnam confident of achieving 8% growth rate in 2025
Key drivers of Vietnam’s growth include institutional reforms and decentralized governance.
14:34, 2024/12/26
UK’s accession to CPTPP to benefit Vietnam’s exports in 2025
Vietnam, in particular, will gain further access to a high-quality market, complementing its connections with Japan, Canada, and Australia.
16:41, 2024/12/16
Hanoi seeks greater efficiency in e-commerce tax management
Hanoi's e-commerce tax administration is expected to be significantly tightened in the near future.