Vietnam’s exports of crude oil reached US$95.18 million in May 2025, according to figures released by Vietnam’s General Department of Customs. This marks a significant decrease of 38.36 percent compared to April, bringing the year-to-date (YTD) export value to US$595.99 million.
Cessation of exports to Thailand is the primary driver of the decline:
The most significant factor in May’s sharp drop was the complete cessation of exports to Thailand, which recorded US$0 in May after importing US$218.91 million in April. This represents a 100 percent decrease and a substantial portion of Vietnam’s crude oil exports.
Australia also sees a substantial decline:
Exports to Australia, the largest single market by YTD value, also experienced a significant decrease of 36.57 percent, falling to US$70.42 million in May. Australia still accounts for a substantial 51.39 percent of the YTD total.
Singapore’s imports remain stable, “Other” markets see sharp drop:
In contrast to the overall downturn, exports to Singapore remained stable at US$24.75 million, with no month-on-month change. The “Other” category of markets saw a complete cessation of exports in May.
See also: Vietnam’s Crude Oil Industry 2025: Production, Trade & Key Players
Vietnam exports of crude oil, May 2025, US$ millions
| May | April | MoM | YTD | % of YTD | |
| Total | 95.18 | 154.42 | -38.36% | 595.99 | 100.00% |
| Other | 0.00 | 21.50 | -100.00% | 0.00 | 0.00% |
| Australia | 70.42 | 111.02 | -36.57% | 306.29 | 51.39% |
| Singapore | 24.75 | 0.00 | 0.00% | 24.75 | 4.15% |
| Thailand | 0.00 | 21.89 | -100.00% | 218.62 | 36.68% |