2022
Exports
$1.34BWorld Rnk 56 / 214
Flag Rnk 48 / 1176
2022
PRODUCT COMPLEXITY IN Refined Petroleum
-0.87Rnk 795 / 1025
2022
Imports
$9.7BWorld Rnk 30 / 225
Flag Rnk 3 / 1208
2022
ECONOMIC COMPLEXITY of Vietnam
0.2Rnk 55 / 133

About

Exports In 2022, Vietnam exported $1.34B in Refined Petroleum, making it the 56th largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 48th most exported product in Vietnam. The main destination of Refined Petroleum exports from Vietnam are: Cambodia ($668M), Singapore ($187M), China ($152M), Laos ($126M), and South Korea ($81.3M).

The fastest growing export markets for Refined Petroleum of Vietnam between 2021 and 2022 were Cambodia ($272M), Laos ($102M), and China ($69.8M).

Imports In 2022, Vietnam imported $9.7B in Refined Petroleum, becoming the 30th largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 3rd most imported product in Vietnam. Vietnam imports Refined Petroleum primarily from: South Korea ($3.67B), Singapore ($1.69B), Malaysia ($1.3B), Thailand ($1.2B), and China ($1.05B).

The fastest growing import markets in Refined Petroleum for Vietnam between 2021 and 2022 were South Korea ($2.53B), Singapore ($798M), and China ($698M).

COMPANIES In 2023, leading companies such as Home Depot (44), Samsung (3), and Chicken of the Sea (2) were at the forefront of shipping Refined Petroleum from Vietnam to the United States.

Latest Trends

Oct 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Refined Petroleum. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$1.34B
IMPORTS (2022)$9.7B
NET TRADE (2022)-$8.36B

In 2022, Vietnam exported $1.34B in Refined Petroleum. The main destinations of Vietnam exports on Refined Petroleum were Cambodia ($668M), Singapore ($187M), China ($152M), Laos ($126M), and South Korea ($81.3M).

In 2022, Vietnam imported $9.7B in Refined Petroleum, mainly from South Korea ($3.67B), Singapore ($1.69B), Malaysia ($1.3B), Thailand ($1.2B), and China ($1.05B).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Refined Petroleum EXPORT MARKETS FOR Vietnam WERE (2021 - 2022):
Cambodia$272M (68.7%)
Laos$102M (428%)
China$69.8M (84.4%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY Vietnam WERE (2021 - 2022):
Malaysia-$108M (-67.8%)
Singapore-$32M (-14.6%)
Indonesia-$14.2M (-61.1%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Vietnam's main exporting competitors in Refined Petroleum were:
In 2022, Vietnam's main importing competitors in Refined Petroleum were:

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Trade Value of Refined Petroleum by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $197M
TOP IMPORT POTENTIALChina+ $748M

Refined Petroleum’s highest export potential is China. With an export gap of $197M.   Refined Petroleum’s highest import potential is China with an import gap of $748M.

See methodology.

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