The import of petroleum gases and other gaseous hydrocarbons to Vietnam has shown considerable volatility over the past decade. From a rise of 21.52% in 2014 to a drastic fall of -31.21% in 2015, the trend has been inconsistent. The CAGR over these years has also fluctuated, peaking at 12.05% in 2014 and dropping to -5.97% in 2016. Notable gains were seen in 2017 and 2021, with increases of 43.78% and 23.78% respectively. The import value stood at $781.81 million in 2023.
Recent data suggests a stabilization with modest YoY increases of 2.49% in 2023 and a forecasted 2.67% in 2024. The projected five-year CAGR from 2024 to 2028 is 1.88%, forecasting moderate growth in import values. By 2028, imports are expected to reach $881.23 million, reflecting a 9.78% growth rate over five years.
- Future trends to watch for include global energy price fluctuations and Vietnam's domestic energy policies.
- Economic factors such as GDP growth and trade relations will also impact import volumes and values.