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Thursday, July 25, 2024

Fuel imports plunge in April

The Saigon Times

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HCMC – Vietnam imported over 667,000 tons of fuels worth US$534.1 million last month, plunging 15.5% in volume and 38.5% in value year-on-year, according to the General Department of Vietnam Customs.

Compared to the figure in March, fuel imports fell by 11.4% in volume and 12.5% in value.

The country spent around US$2.77 billion importing 3.26 million tons of fuel in the first four months of this year, down 16.3% in value and 4.8% in volume year-on-year.

South Korea remained the largest fuel supplier of Vietnam between January and April, as it supplied 1.25 million tons to the country.

Singapore came in second with over 825,000 tons, followed by Malaysia with over 500,000 tons and China with 353,000 tons.

Statistics from the General Department of Vietnam Customs showed that Vietnam exported over 185,000 tons of fuel worth US$153.8 million in April, down 21.7% in volume and 22.8% in value month-on-month.

Compared to the same period last year, the volume and value of Vietnam’s fuel exports decreased by 7.4% and 23.8%, respectively.

As of the end of April, Vietnam gained US$642 million from exporting over 739,600 tons of fuel. Cambodia bought over 214,200 tons of fuel, making it Vietnam’s largest fuel buyer in the first four months of this year.

Singapore ranked second with over 79,200 tons of fuel, followed by South Korea with 67,600 tons.

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