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Thailand's petroleum imports from Vietnam increased nearly 16 times

Báo Công thươngBáo Công thương12/08/2024


According to the latest statistics from the General Department of Customs, in the first half of July (July 1-15), the country exported 50,523 tons of various types of petroleum, with a turnover of 41.4 million USD. In total, from the beginning of the year to July 15, the amount of petroleum exported reached 1.3 million tons, with a turnover of 1.08 billion USD, up 8.3% and 7.3% respectively over the same period in 2023.

On the other hand, from the beginning of the year to July 15, the country imported more than 5.8 million tons of various types of gasoline and oil, with a total turnover of 4.7 billion USD, up 3% in volume and 4.4% in turnover over the same period in 2023.

Nhập khẩu xăng dầu của Thái Lan từ Việt Nam tăng gấp 16 lần
Thailand's petroleum imports from Vietnam increased 16 times

In terms of market, Cambodia was the largest customer of Vietnamese petroleum in the first 6 months of the year with more than 222 thousand tons, worth more than 183 million USD, down 29% in volume and 31.1% in value compared to the same period last year.

Coming in second is the Korean market with more than 132 thousand tons of gasoline, equivalent to more than 120 million USD, up 39% in volume and 33% in value.

China is the third largest customer of Vietnamese petroleum, accounting for more than 10% of our country's total export output. In the first 6 months of the year, our country exported more than 116 thousand tons to its neighbor, with a turnover of more than 108 million USD, up 36% in volume and 35% in value compared to the first 6 months of 2023.

Notably, Thailand is becoming the market with the strongest increase in Vietnam's petroleum imports in the first half of the year. Specifically, this market imported 6,741 tons of petroleum from Vietnam in the first half of 2024, compared to only 402 tons in the same period last year, a figure corresponding to an increase of 1,576% (nearly 16 times) over the same period last year. The export value reached more than 6 million USD, an increase of 1,379% (nearly 14 times) over the same period last year.

Although it is the market that witnessed the strongest growth, Thailand only accounts for a very small proportion, less than 1% of total export output to Vietnam's markets.

Vietnam currently has two oil refineries, Dung Quat and Nghi Son, supplying 10-13 million m3 of finished gasoline and oil products of all kinds each year. These two refineries currently supply about 70% of domestic gasoline and oil consumption demand, of which Nghi Son's supply proportion is about 35%, sometimes up to 40%.

According to data from the Ministry of Industry and Trade, in 2024, the total minimum source of gasoline and oil assigned by the Ministry to key gasoline and oil traders (36 traders) will be 28,437,856 m3 /ton of all types of gasoline and oil.

According to reports from the two factories and the General Department of Customs, the total source of production and import of gasoline and oil in the first 6 months of 2024 reached 12.41 million tons, equivalent to about 15.2 million m3 /ton of gasoline and oil of all kinds. Of which, imports accounted for 44.5%, domestic production accounted for 55.5%.



Source: https://congthuong.vn/nhap-khau-xang-dau-cua-thai-lan-tu-viet-nam-tang-gap-gan-16-lan-338418.html

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