Vietnam’s petroleum product exports fell by 56.20 percent month-on-month in January, reaching US$74.42 million, according to Vietnam’s General Department of Customs.

Cambodia was the largest market, accounting for 36.43 percent of total exports at US$27.11 million, increasing by 8.57 percent from December. South Korea followed with US$19.59 million, representing 26.32 percent of total exports, down 26.04 percent. China ranked third with US$14.22 million, making up 19.11 percent of total exports, declining by 36.93 percent.

Compared to December, Cambodia was the only major market to record growth, rising by 8.57 percent. Meanwhile, exports to Laos and Thailand fell sharply, declining by 66.57 percent and 57.14 percent, respectively.

The top five markets—Cambodia, South Korea, China, Singapore, and Laos—accounted for 98.87 percent of Vietnam’s total petroleum product exports in January. Despite growth in Cambodia, the overall decline was driven by weaker demand from other key markets.

See also: Petroleum Industry in Vietnam

Vietnam’s petroleum product exports, January, US$ millions

	January	December	MoM	YTD	% of Total
Total	74.42	169.92	-56.20%	74.42	100.00%
Other	0.80	78.12	-98.97%	0.80	1.08%
Cambodia	27.11	24.97	8.57%	27.11	36.43%
South Korea	19.59	26.49	-26.04%	19.59	26.32%
China	14.22	22.55	-36.93%	14.22	19.11%
Singapore	10.88	12.39	-12.19%	10.88	14.62%
Laos	1.78	5.33	-66.57%	1.78	2.39%
Thailand	0.04	0.08	-57.14%	0.04	0.05%

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