Vietnam’s imports rise 12.7% in 2011

According to the General Statistics Office (GSO), Vietnam imported 2.884 million tons of petroleum products in the first quarter of 2011. This is a 12.7% increase in volume from the previous year, at a cost of US$2.403 billion. The country hopes to cut its petroleum products significantly in the future once the Dung Quat oil refinery, the country’s first, can start boosting output. The Dung Quat refinery is expected to produce 4.9 million tons of petroleum products this year. In 2010, Vietnam imported 9.078 million metric tons of petroleum products at a cost of US$5.742 billion. (March 31, 2011)