Statistics from Vietnam Customs do not show the low price of crude oil exports to China

15:12 | 28/09/2017 Import-Export Follow english.haiquanonline.com.vn on

VCN- Recently, many newspapers which have quoted statistics of the General Department of Vietnam Customs said that the average price of crude oil exports to China was lower than general average price. But it is not true in the fact.

	Preliminary assessment of Vietnam international merchandise trade performance in the first 8 months of 2017
	Preliminary assessment of Vietnam international merchandise trade performance in the first half of August, 2017
	Preliminary assessment of Vietnam international merchandise trade performance in the first 7 months of 2017

statistics from vietnam customs do not show the low price of crude oil exports to china

Data of Vietnam Customs has shown that the price of crude oil exports to China is higher than the average price. Photo: Internet

As per the latest information, the average price of crude oil exports to Vietnam was 408 USD per ton, meanwhile, the actual price is the only US $ 400 per ton and that information is considered to be quoted from the source of Vietnam Customs.

But in the fact that the trade statistics are publicized by Vietnam Customs on Portal (www.customs.gov.vn), and the price of crude oil exports to China is higher than the general average price (excluding Taxes).

Especially, until the end of August 2017, the country exported 4.954 million tons of crude oil (4,954.275 tons), the total turnover of more than US $ 1.98 billion (US $ 1,980,749,246), the average price only was $ US 399.7 per ton.

Meanwhile, exports to China reached nearly 1.7 million tons (1,698.789 tons) with a total turnover of over US $ 684 million (684,106,018). The average export price to China was US$ 402.7 per ton.

PVN exports 355 million tonnes of crude oil in 30 years

The Vietnam National Oil and Gas Group PVN has exported 355 million tonnes of crude oil worth ...

Therefore, if calculating in detail as above, it is shown that the price of crude oil exports to China is US$ 3 higher than average price, not US$ 8 as per the latest information from newspapers.

As informed by Customs Newspaper, Petro Vietnam (PVN) said that the average price of crude oil exports to China was US$ 405.31 with about US $ 2.9 higher than the average price.

By Thai Binh/Ngoc Loan

Tags:

Related News

Consulting on customs control for e-commerce imports and exports

14:50 | 14/02/2025 Regulations

VCN- The General Department of Vietnam Customs (GDVC) consults widely on the draft Decree regulating customs control for e-commerce imports and exports.

Customs administrations coordinate to seize nearly 20,000 endangered wildlife

09:15 | 14/02/2025 Anti-Smuggling

VCN – About 20,000 live animals, all endangered or protected species, have been seized in a global operation against wildlife and forestry trafficking networks, jointly coordinated by the World Customs Organization (WCO) and INTERPOL.

Hai Phong Customs’ revenue rises about VND 1,000 billion

14:52 | 14/02/2025 Customs

VCN- In the first month of the year, Hai Phong Customs' revenue increased by nearly VND1,000 billion.

Import and export turnover reaches about US$29 billion in the second half of January 2025

14:52 | 14/02/2025 Import-Export

VCN - Vietnam's total import and export turnover in the second half of January 2025 (January 16-31, 2025) reached US$28.9 billion, the latest preliminary statistics of the General Department of Vietnam Customs reported.

Latest News

Embracing green exports: a pathway to enter global supply chains

10:33 | 20/02/2025 Import-Export

This shift presents both a challenge and an opportunity for Vietnamese businesses to innovate and enhance their competitive edge in the international arena.

New policy proposed to prevent transfer pricing, tax evasion of FDI enterprises

10:32 | 20/02/2025 Import-Export

The ministry proposes to issue a decree on the establishment, management and use of the Investment Support Fund to stabilise the investment environment, encourage and attract strategic investors and multinational corporations.

Việt Nam’s durian exports to China plummet by 80%

16:18 | 19/02/2025 Import-Export

This sharp decline has had a direct impact on Việt Nam’s fruit and vegetable export revenue, which stood at US$416 million in January 2025, marking a 11.3 per cent decrease month-on-month and a 5.2 per cent drop year-on-year.

Coconut exports reach 14-year high

15:29 | 18/02/2025 Import-Export

In 2024, fresh coconut and coconut product exports surpassed US$1 billion, marking the highest figure in the past 14 years.

More News

Shrimp exports grow in the first month of 2025

15:28 | 18/02/2025 Import-Export

According to data from the Việt Nam Association of Seafood Exporters and Producers (VASEP), shrimp products recorded a 13 per cent increase in export value in January 2025, reaching a total of $273.3 million.

Rice export prices drop, but decline expected to be short-term

08:10 | 17/02/2025 Import-Export

Việt Nam’s rice export prices have declined, reaching their lowest level in three years.

Key agro products expected to maintain export growth this year

08:08 | 17/02/2025 Import-Export

At present, agricultural exports, such as rice, coffee and seafood, have steadily secured a stable place in major global markets.

EU issues 12 warnings against Việt Nam’s food and agricultural exports

08:07 | 17/02/2025 Import-Export

The Việt Nam SPS Office has reported that some Vietnamese export products failed to meet the EU’s stringent standards.

Việt Nam to impose VAT on low-value express-imported goods

08:06 | 17/02/2025 Import-Export

Việt Nam will end a previous policy that exempted imported goods valued under VNĐ1 million (US$39.4) from taxes when shipped via express delivery.

Exchange rate risks need attention in near future

16:31 | 15/02/2025 Import-Export

VCN - Exchange rate developments in 2025 are considered to be quite complicated due to US policies related to trade and investment.

Vietnam kicked off the year with a strong start in trade, exceeding US$63 billion in the first month

16:30 | 15/02/2025 Import-Export

VCN - Data from the General Department of Vietnam Customs indicates a softening of both exports and imports in January 2025, relative to the same month in 2024.

Market edges up slightly as liquidity remains low

14:48 | 14/02/2025 Import-Export

Market breadth remained positive, with 161 gainers outnumbering 144 decliners.

Business regulations must be trimmed for development of enterprises: Experts

14:46 | 14/02/2025 Import-Export

The General Statistics Office (GSO)'s socio-economic report for January 2025 reveals that while over 33,400 newly established or resumed businesses entered the market - marking a 15% increase compared to January 2024 - more than 58,300 businesses withdrew from the market, representing a growth of 8.1% on year.

Your care

Latest Most read