September 05, 2018 | 17:56 (GMT+7)
Vietnam’s imported petroleum up 26.4 percent in eight months
Vietnam spent USD 5.71 billion importing over 8.6 million tonnes of petroleum over the eight months of this year, up 26.4 percent year-on-year.
According to the Vietnam Industry and Trade Information Center, during the period, the petroleum was mostly imported from Malaysia – accounting for 28.6 percent of total, reaching 2.23 million tons worth USD 1.38 billion, up 49.3 percent in volume and 102.3 percent in value.
The Republic of Korea was the second largest supplier of petroleum to Vietnam, making up 25.3 percent of the total. It sold 1.97 million tons worth USD 1.42 billion to Vietnam, up 14.5 percent in volume and 37.5 percent in value.
Vietnam also imported 1.81 million tons of petroleum valued at USD 1.15 billion from Singapore, accounting for 23.2 percent of the total, down 40.8 percent in volume and 22.7 percent in value.
The country also bought 895,197 tons from China, marking a 48.5 percent rise year-on-year; 619,739 tons from Thailand; and 60,361 tons from Russia.
Statistics from the Ministry of Industry and Trade showed that Vietnam’s total imports reached USD 21 billion in August, up 0.2 percent month-on-month and 14.8 percent year-on-year.
Over the past eight months, Vietnam’s total imports rose 11.6 percent annually to USD 152.66 billion – USD 61.85 billion of which was from domestic firms (up 11.8 percent from last year’s same period) and USD 90.8 billion from foreign-invested ones (up 11.45 percent).
Source: VNA