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Imports of petroleum skyrocketed

by Alexandra Hartman Editor-in-Chief

In 2022, the amount of imported petroleum will reach 8,874,959 tons, worth 8.9 billion USD, up 27.7% in volume and 118.5% in turnover compared to 2021.

In 2022, the amount of imported petroleum will reach 8,874,959 tons, worth 8.9 billion USD, up 27.7% in volume and 118.5% in turnover compared to 2021.

Petroleum imports to Vietnam in December 2022 increased by 22.2% in volume and 10.9% in turnover compared to the previous month, reaching 944,391 tons, worth USD 822.6 million,

Vietnam imports the most petroleum from South Korea in 2022, accounting for 36-37% of the total import volume and turnover, reaching 3,222,662 tons, worth $3.3 billion, up 96.2% in volume. and 72% increase in turnover compared to 2021; in which, in December 2022, imports increased by 133.1% in volume and 112% in turnover compared to November 2022, reaching 308,446 tons, worth 275.1 million USD.

Following is the Singapore market, accounting for more than 16% of the total import volume and turnover in 2022, reaching 1,490,073 tons, worth $1.43 billion, up 17.7% in volume and 91.3% on turnover; in December 2022 alone, imports reached 170,165 tons, worth 128.1 million USD, down 20.4% in volume and 37.9% in value.

Next is the Malaysian market, in 2022 accounting for more than 14-15% share in total volume and 14.9% total import turnover, down 37.6% in volume and up 1.6% in turnover, reaching 1,415,069 tons, worth 1.29 billion USD; In December 2022, imports from this market decreased by 54.9% in volume and 57.2% in turnover.

Next is the Thai market, in 2022 accounting for more than 12% of the total import volume and turnover, down 9.4% in volume and up 57.8% in turnover, reaching 1,080,850 tons, worth 1 ,15 billion USD; in December 2022 alone, imports reached 80,435 tons, worth 72.9 million USD, up 88.3% in volume and 66.4% in value.

Petroleum imports skyrocketed - Photo 2.

Import of petroleum in 2022. Source: General Department of Customs

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