Business

Vietnam records strong increase in fuel imports in two months

Statistics of Vietnam Customs showed that Vietnam spent more than 1.44 billion USD importing 2.18 million tonnes of petroleum products in the first two months of this year, representing a sharp increase of 31.4% and 43%, respectively, over the same period last year.

Workers of PTSC Thanh Hoa check the system for crude oil imports. Vietnam saw strong increase in fuel imports in the first two months of this year. (Photo" VNA)
Workers of PTSC Thanh Hoa check the system for crude oil imports. Vietnam saw strong increase in fuel imports in the first two months of this year. (Photo" VNA)

Hanoi (VNS/VNA) - Vietnam saw a strong increase in fuel imports in the first two months of this year amid global energy uncertainty triggered by spiralling Middle East tensions.

Statistics of Vietnam Customs showed that Vietnam spent more than 1.44 billion USD importing 2.18 million tonnes of petroleum products in the first two months of this year, representing a sharp increase of 31.4% and 43%, respectively, over the same period last year.

Crude oil imports totalled more than 2.16 million tonnes, worth 1.08 billion USD, falling by 10% in volume and 25% in value, however.

The country exported about 200.3 million USD worth of crude oil and nearly 55 million USd worth of petroleum product exports in the first two months of the year, falling by 16.7% and 62.3%, respectively.

In 2025, Vietnam imported around 9.9 million tonnes of petroleum products worth 6.8 billion USD and 14.1 tonnes of crude oil worth 7.7 billion USD.

Vietnam is a net importer of petroleum products to meet the energy demand for the double-digit growth goal and ensure energy security.

According to the Ministry of Industry and Trade, major petrol wholesalers continue to import refined petroleum products to supply the domestic market despite rising import and logistics costs. Together with their commercial reserves, fuel supply for the domestic market is expected to remain stable in March.

However, if the tensions in the Middle East are prolonged, the domestic energy market could face greater challenges in April./.

VNA
#fuel imports #Vietnam #strong increase #energy uncertainty #energy security
Follow VietnamPlus

Related News

Customers buy and sell fuel at a Petrolimex petrol station. (Photo: VNA)

Capital’s fuel market remains stable after March 5 price adjustment

Operations at several petrol stations across Hanoi have run normally. Along major routes, petrol stations remained open and continued to serve customers as usual. The number of vehicles refueling showed no major changes compared to the days before the price adjustment. Sales activities continued without interruption, and there were no long queues or supply disruptions.

The MoIT will closely monitor global oil prices, output, inventories and trade flows to adjust imports and domestic supply accordingly. - Illustrative image (Photo: VNA)

Vietnam triggers fuel contingency plan over Middle East crisis

The Ministry of Industry and Trade will closely monitor global oil prices, output, inventories and trade flows to adjust imports and domestic supply accordingly. It will also intensify oversight of key traders’ compliance with their 2026 minimum reserve obligations.

See more

Industrial production surges in the first two months of 2026. (Photo: VNA)

Industrial production posts strong growth in first two months

According to the National Statistics Office (NSO) under the Ministry of Finance, the index of industrial production (IIP) in February was estimated to decrease 18.4% from the previous month but increase 1% year on year. Overall, in the January–February period, the IIP rose 10.4% compared with the same period last year.

A delegation from the Nghe An provincial People’s Committee inspects production and business activities at the VSIP Nghe An Industrial, Urban and Service Park. (Photo:nhandan.vn)

Nghe An steps up reforms to attract FDI

In 2025, the provincial People’s Committee licensed 25 new FDI projects and approved capital adjustments for 20 others, bringing the total newly registered and additional investment to more than 1 billion USD. Many large-scale projects in the Southeast Nghe An Economic Zone have already become operational, contributing to export growth, state budget revenues and job creation.

Nearly 35,500 enterprises are newly registered nationwide, with total registered capital reaching nearly 313.7 trillion VND and more than 167,500 registered workers. (Photo: VNA)

Nearly 35,500 new businesses set up in first two months

The enterprises registered combined capital of about 313.7 trillion VND and more than 167,500 employees. Compared with the same period last year, the number of new businesses surged by 70.7%, while registered capital rose by 36.1% and registered labour increased by 19.1%.

The yarn factory of Unitex Textile and Dyeing Company Limited applies new technology to optimise operations using an automated model. (Photo: VNA)

Resolution 68: International lessons for private sector development

A common feature in many successful economies is a fundamental shift in the perception of private enterprises. In countries such as Singapore, Germany, Republic of Korea (RoK) and China, private firms are viewed not mainly as entities requiring strict control but as development partners and key forces generating growth, jobs and innovation.

The production line of Regza Electronics Vietnam Co., Ltd. located in Dong Nai province. (Photo: VNA)

Vietnam’s overseas investment rises 2.3-fold in first two months

During the period, 36 new overseas projects were granted investment certificates with total registered capital from Vietnamese investors reaching 532.4 million USD, up 2.3 times compared to the same period last year. In addition, three projects adjusted their capital with an additional 7.8 million USD, 1.5 times higher than a year earlier.

Prime Minister Pham Minh Chinh visits a macadamia cultivation model in Huoi Tao B village, Pu Nhi commune, Dien Bien province on March 8. (Photo: VNA)

PM requests boosting agricultural development in Northwestern region

PM Chinh encouraged local residents to explore additional crops and livestock suitable for intercropping in order to maximise land use efficiency. Farmers were also urged to strengthen cooperation with one another and with businesses by joining cooperatives, consolidating land resources and working together to expand production and improve incomes.

Farmers in the Mekong Delta province of An Giang harvest rice grown under the project 'Sustainable Development of One Million Hectares of High-Quality, Low-Emission Rice Associated with Green Growth in the Mekong Delta by 2030.' (Photo: VNA)

Promoting high-quality rice exports amid mounting challenges

According to the Ministry of Agriculture and Environment (MAE), an estimated 600,000 tonnes of rice worth 370 million USD was exported in January, up 12.4% in volume and 16.9% in value year-on-year. The average export price reached 616.6 USD per tonne, up 4%.

Fuel supply in Hanoi remains stable. (Photo: VNA)

Fuel prices rise sharply from 3 pm on March 7

Since the beginning of this year, domestic fuel prices have undergone 11 adjustments. During this period, both RON95 and E5 RON92 experienced four decreases and seven increases, while diesel oil two falls and nine hikes.