The country shipped abroad 1.76 million tonnes of crude oil worth a total of US$1.16 billion in the first seven months of the year, up 19.7% in volume but down 10.4% in value on-year, according to the General Department of Vietnam Customs.

July alone saw the nation rake in US$224 million from exporting 350,000 tonnes of crude oil, increasing by 52.2% in volume and 7.2% in value against the same month from last year.

Furthermore,  the country imported 1.5 million tonnes of crude oil valued at US$862 million in July, recording surges of 120.6% in volume and 49.3% in value on-year.

During the January to July period, the nation imported about 7.36 million tonnes of petrol and oil at an estimated cost of US$4.45 billion. With regard to these markets, the General Department of Vietnam Customs reported that the country exported crude oil to eight major markets throughout the reviewed period.

Thailand and Australia represented the major buyers of Vietnamese crude oil with volumes of 550,931 tonnes and 500,689 tonnes, respectively.

Meanwhile, over the same seven-month period Kuwait stood as the largest import market for Vietnamese oil with 4.91 million tonnes.

VOV