2023
Exports
$1.72BWorld Rnk 38 / 150
Flag Rnk 42 / 1173
2023
PRODUCT COMPLEXITY IN Crude Petroleum
-2.37Rnk 1015 / 1025
2023
Imports
$839MWorld Rnk 59 / 159
Flag Rnk 64 / 1199
2023
ECONOMIC COMPLEXITY of Vietnam
0.067Rnk 60 / 132

About

Exports In 2023, Vietnam exported $1.72B in Crude Petroleum, making it the 38th largest exporter of Crude Petroleum in the world. At the same year, Crude Petroleum was the 42nd most exported product in Vietnam. The main destination of Crude Petroleum exports from Vietnam are: Australia ($698M), Thailand ($596M), Japan ($236M), Singapore ($84.3M), and Brunei ($58.7M).

The fastest growing export markets for Crude Petroleum of Vietnam between 2022 and 2023 were Australia ($253M), Indonesia ($24.6M), and Singapore ($12.6M).

Imports In 2023, Vietnam imported $839M in Crude Petroleum, becoming the 59th largest importer of Crude Petroleum in the world. At the same year, Crude Petroleum was the 64th most imported product in Vietnam. Vietnam imports Crude Petroleum primarily from: Azerbaijan ($345M), Nigeria ($237M), Angola ($116M), United States ($79.1M), and Malaysia ($50.7M).

The fastest growing import markets in Crude Petroleum for Vietnam between 2022 and 2023 were Nigeria ($237M), Angola ($116M), and Indonesia ($10.9M).

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 Crude 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)$1.72B
IMPORTS (2023)$839M
NET TRADE (2023)$884M

In 2023, Vietnam exported $1.72B in Crude Petroleum. The main destinations of Vietnam exports on Crude Petroleum were Australia ($698M), Thailand ($596M), Japan ($236M), Singapore ($84.3M), and Brunei ($58.7M).

In 2023, Vietnam imported $839M in Crude Petroleum, mainly from Azerbaijan ($345M), Nigeria ($237M), Angola ($116M), United States ($79.1M), and Malaysia ($50.7M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Crude Petroleum EXPORT MARKETS FOR Vietnam WERE (2022 - 2023):
Australia$253M (56.8%)
Indonesia$24.6M (1%)
Singapore$12.6M (17.6%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Crude Petroleum BY Vietnam WERE (2022 - 2023):
China-$170M (-86.9%)
Malaysia-$116M (-100%)
Japan-$110M (-31.7%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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

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Trade Value of Crude Petroleum by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $501M
TOP IMPORT POTENTIALUnited States+ $217M

Crude Petroleum’s highest export potential is China. With an export gap of $501M.   Crude Petroleum’s highest import potential is United States with an import gap of $217M.

See methodology.

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