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Nearly US$7.4 billion spent on fuel imports from Jan-Oct

The Saigon Times

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HCMC – Vietnam spent some US$7.4 billion importing 7.12 million tons of oil and gasoline products between January and October, up 22.7% in volume and 124% in value year-on-year.

In October alone, the country’s fuel imports amounted to 602,000 tons, worth US$556 million, inching down 4.1% in volume and 9.8% in value month-on-month, according to statistics from the General Department of Vietnam Customs.

During the 10-month period, Vietnam imported 4.15 million tons of diesel oil, up 84% year-on-year, and 1.5 million tons of gasoline, a year-on-year three-fold increase, the local media reported.

South Korea was the largest fuel supplier for Vietnam during the January-October period, with a volume of 2.75 million tons, up 98.5% year-on-year, followed by Singapore with 1.1 million tons.

The statistics indicated that Vietnam’s total import-export turnover reached US$616.3 billion during the 10-month period, up 14% year-on-year.

Of this, the country’s export revenue rose by 16% year-on-year at US$312.94 billion, while the import spending amounted to US$303.35 billion, up 12.2% against the year-ago period, resulting in a trade surplus of US$9.59 billion.

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