Vietnam Economic Times reported on Jan. 15 that Vietnam Customs Bureau statistics showed that in 2018 Vietnam imported 11.43 million tons of refined oil, a decrease of 11% compared with the same period last year; the total imported value was 7.6 billion US dollars, an increase of 8.6% compared with the same period last year. The average price of imported oil is $668.2 per ton.
Malaysia is the largest supplier of oil products in Vietnam. During the year, Vietnam imported 32.8 million tons of oil from Malaysia (28.7% of the total imports) and imported 2.05 billion US dollars, up 25.8% and 64.5% respectively from the same period of last year; Korea ranked second, Vietnam imported 2.42 million tons of oil from Korea (21.2%) and imported 1.79 billion US dollars, down 20% and 6% respectively; Singapore ranked third, imported and imported points. They were 2.4 million tons and $1.53 billion respectively, both of which declined significantly from the same period last year. The other import sources are China (Mainland), Thailand, Russia and Hong Kong, China according to the statistics of import volume. Among them, 1.4 million tons of oil are imported from China (Mainland), with imports of US$1 billion, up 49% and 93% respectively from the same period last year.
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