Petroleum imports from China fell sharply

Do not enjoy preferential import tariff, import petrol from the Chinese market down 41%.


According to the General Department of Customs, the first 2 months of 2016 petroleum imports reached 1.7 million tons of various kinds, up 12.4% but decreased 33.1% in value over the same period.

Petroleum import structure has changed. Specifically, the Singapore market is the largest petroleum imports to 836,000 tons, up 51.2% over the same period.

Next, petroleum imports from Thailand reached 206,000 tonnes, up 2% while Malaysia reached 196,000 tons, an increase of 10 times over the same period.

Notably, gasoline imports from China fell nearly 41% to 200,000 tonnes. 2015, China remained the largest oil exporter in Vietnam 3rd reached 1.76 million tons.

The reason for the decline is due to the implementation of the Agreement on Trade in Goods of ASEAN. Since early 2016, import tariffs on Vietnam oils reduced to 0%, while gasoline is 20% pressure from China still at 10-20%. Therefore, the enterprises to increase imports from the ASEAN region for enjoying preferential tax.

 

Bach Duong


 


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