April alone witness petroleum businesses spend US$534.1 million on importing 667,243 tonnes, marking decreases of 11.4% in volume and 12.5% in value from the previous month.

The Republic of Korea made up the biggest petrol exporter to Vietnam with 1.25 million tonnes. This was followed by Singapore with 825,715 tonnes, Malaysia with 500,302 tonnes, and China with 353,003 tonnes.

According to the Vietnam Petroleum Association (VINPA), the slight decrease in demand for petrol in production and business activities in the first quarter of the year contributed to the general decline in the country’s import volume.

Meanwhile, April saw Vietnam export 185,208 tonnes of petroleum products for US$153.81 million, down 21.7% in volume and 22.8% in value against March.

In comparison to April 2022, Vietnamese petroleum export volume and value decreased by 7.4% and 23.8%, respectively.

In the first four months of the year, Vietnam exported 739,619 tonnes of petroleum products worth US$642 million, up 0.1% in volume, but down 0.3% in value year on year.

Source: VOV