Brian Jeffrey
During June 2024, Vietnam saw a decrease in fuel imports to 8.4 million tons, valued at $2.11 billion, a reduction of $514 million from the previous month.
For the first six months of 2024, Vietnam’s fuel imports reached 47.25 million tons valued at $13.88 billion, marking a significant increase compared to the same period in 2023.
Fuel imports accounted for 8% of the country’s total import value in the first half of 2024, ranking second after electronic products and components.
The import volume of coal and crude oil saw a substantial increase compared to the previous year, with coal reaching 33.43 million tons and crude oil at 6.81 million tons.
In the same period, petroleum product imports totaled 5.44 million tons, with diesel comprising the majority at 2.57 million tons.
The rise in fuel imports can be attributed to the temporary shutdown of the Dung Quat Refinery, prompting traders to increase imports to maintain supply.
Vietnam’s primary fuel import sources include Indonesia, Australia, and Kuwait, all showing varying trends in import volumes.
Looking back at 2023, Vietnam imported a substantial amount of fuels, notably coal, crude oil, various petroleum products, and liquefied natural gas.
