2023
Exports
$1.12BWorld Rnk 64 / 214
Flag Rnk 63 / 1173
2023
PRODUCT COMPLEXITY IN Refined Petroleum
-0.94Rnk 813 / 1025
2023
Imports
$5.89BWorld Rnk 41 / 226
Flag Rnk 4 / 1199
2023
ECONOMIC COMPLEXITY of Vietnam
0.067Rnk 60 / 132

About

Exports In 2023, Vietnam exported $1.12B in Refined Petroleum, making it the 64th largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 63rd most exported product in Vietnam. The main destination of Refined Petroleum exports from Vietnam are: Cambodia ($672M), Saudi Arabia ($209M), Singapore ($133M), Philippines ($48.5M), and Malaysia ($16.8M).

The fastest growing export markets for Refined Petroleum of Vietnam between 2022 and 2023 were Philippines ($41.9M), Saudi Arabia ($2.98M), and Thailand ($1.43M).

Imports In 2023, Vietnam imported $5.89B in Refined Petroleum, becoming the 41st largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 4th most imported product in Vietnam. Vietnam imports Refined Petroleum primarily from: Singapore ($2.11B), Malaysia ($1.64B), China ($996M), Thailand ($988M), and Chinese Taipei ($25.8M).

The fastest growing import markets in Refined Petroleum for Vietnam between 2022 and 2023 were Singapore ($592M), Malaysia ($408M), and China ($21.3M).

COMPANIES In 2024, leading companies such as Samsung (8), Electrolux (1), and ASOS (1) were at the forefront of shipping Refined Petroleum from Vietnam to the United States.

Latest Trends

Dec 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 (2023)$1.12B
IMPORTS (2023)$5.89B
NET TRADE (2023)-$4.77B

In 2023, Vietnam exported $1.12B in Refined Petroleum. The main destinations of Vietnam exports on Refined Petroleum were Cambodia ($672M), Saudi Arabia ($209M), Singapore ($133M), Philippines ($48.5M), and Malaysia ($16.8M).

In 2023, Vietnam imported $5.89B in Refined Petroleum, mainly from Singapore ($2.11B), Malaysia ($1.64B), China ($996M), Thailand ($988M), and Chinese Taipei ($25.8M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Refined Petroleum EXPORT MARKETS FOR Vietnam WERE (2022 - 2023):
Philippines$41.9M (636%)
Saudi Arabia$2.98M (1.45%)
Thailand$1.43M (19.4%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY Vietnam WERE (2022 - 2023):
Laos-$126M (-100%)
China-$55.3M (-94.1%)
Cambodia-$52.4M (-7.23%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Vietnam's main exporting competitors in Refined Petroleum were:
In 2023, 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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