Vietnam’s imports of petroleum products decreased by 29.52 percent month-on-month in January, reaching US$589.58 million, according to Vietnam’s General Department of Customs. This follows a decline from US$836.52 million recorded in December.
Year-to-date, Vietnam’s total imports of petroleum products stood at US$589.58 million. Singapore remained the largest supplier, contributing US$298.73 million, or 50.7 percent of the total, followed by South Korea with US$130.49 million, representing 22.2 percent, and China with US$73.2 million.
Among major suppliers, China recorded the highest month-on-month growth, increasing by 54.83 percent. In contrast, Thailand saw the steepest decline, with imports falling 80.08 percent. Malaysia also posted a significant drop of 51.28 percent, while imports from South Korea and Singapore decreased by 36.91 percent and 19.19 percent, respectively.
The petroleum products market in Vietnam remains heavily reliant on Singapore, which accounted for nearly half of total imports. While China showed strong growth, the overall decline in imports from Thailand and Malaysia indicates shifting sourcing patterns and possibly weaker demand for petroleum products.
See also: Vietnam’s Petroleum Industry
Vietnam petroleum product imports, January, US$ millions
| January | December | MoM | YTD | % of Total | |
| Total | 589.58 | 836.52 | -29.52% | 589.58 | 100.00% |
| Other | 19.15 | 24.15 | -20.70% | 19.15 | 3.25% |
| Singapore | 298.73 | 369.66 | -19.19% | 298.73 | 50.67% |
| South Korea | 130.49 | 206.84 | -36.91% | 130.49 | 22.13% |
| China | 73.20 | 47.28 | 54.83% | 73.20 | 12.42% |
| Malaysia | 51.49 | 105.69 | -51.28% | 51.49 | 8.73% |
| Thailand | 16.52 | 82.89 | -80.08% | 16.52 | 2.80% |