Vietnam’s imports of petroleum products reached US$480.41 million in May 2025, according to figures released by Vietnam’s General Department of Customs. This represents a significant decrease of 16.88 percent compared to April, bringing the year-to-date (YTD) import value to US$2.69 billion.
Singapore remains the top supplier despite a massive drop:
Singapore, traditionally the largest supplier, saw its imports plummet by 63.61 percent to US$118.07 million in May. Despite this sharp decline, Singapore still accounts for a substantial 41.42 percent of the total year-to-date imports.
South Korea, Malaysia, and China show strong growth:
Conversely, imports from South Korea surged by 34.23 percent to US$127.95 million in May, making it the largest supplier for the month. Malaysia also experienced a significant increase of 68.28 percent, with imports valued at US$108.12 million. China’s imports grew by 42.93 percent to US$90.79 million.
Thailand records extraordinary month-on-month surge:
Thailand exhibited remarkable month-on-month growth in May, with imports surging by 82.16 percent to US$14.10 million.
The overall sharp decline in May’s petroleum product imports highlights a significant shift in Vietnam’s sourcing strategies, with a dramatic reduction from Singapore being partially offset by strong growth from South Korea, Malaysia, and China.
See also: Vietnam Petroleum Industry 2025: Consumption, Trade & Key Players
Vietnam imports of petroleum products, May 2025, US$ millions
| May | April | MoM | YTD | % of YTD | |
| Total | 480.41 | 577.95 | -16.88% | 2,693.41 | 100.00% |
| Other | 21.37 | 22.65 | -5.65% | 0.00 | 0.00% |
| South Korea | 127.95 | 95.32 | 34.23% | 673.09 | 24.99% |
| Singapore | 118.07 | 324.46 | -63.61% | 1,115.75 | 41.42% |
| Malaysia | 108.12 | 64.25 | 68.28% | 337.91 | 12.55% |
| China | 90.79 | 63.52 | 42.93% | 417.58 | 15.50% |
| Thailand | 14.10 | 7.74 | 82.16% | 54.62 | 2.03% |