[Vnbiz] Vietnam says 2006 trade deficit stable at 4.81 billion USD

[Tran Dinh Hoanh]

Dear a. Craig & a. Shane & CACC,

Of course, Shane and Craig are correct that the refined oil has much
higher monetary value than crude oil.  But that doesn't have to
translate into higher import (of refined oil) than export of crude
oil.  It depends on how many barrels of crude oil are exported versus
how many barrels of refined oil are imported.  The number could mean
that we export a large volume of crude oil and import a much smaller
volume of refined oil.  As anh Craig writes:  "Unless we are
contending that Vietnam is a country with a mass of petroleum surplus
and that it exports much more than in normally consumes, which I
thought it doesn't."  Well, it could be the case.

Does anyone have any statistics on oil production and consumption in Vietnam?

Have a great day!

Hoanh


On 12/27/06, Craig Stevenson <cstevenson2000 at gmail.com> wrote:
> [ Vietnam Business Forum ]
>
>
>
> Vnbzrs:
>
> I believe Shane is strictly pointing to the validity of petroleum exports,
> correct.  Rather than point to the overall trade deficit number I believe he
> is simply pointing to the fact that normally petroleum imports, when all the
> different classes were totalled, would collectively outweigh the value of
> exports because they are value added.  Actually makes sense that if Vietnam
> uses virtually all of its own oil, in volume of consumption not necessarily
> origin, then the number for value added imports would outwiegh exports, and
> by far.  Unless we are contending that Vietnam is a country with a mass of
> petroleum surplus and that it exports much more than in normally consumes,
> which I thought it doesn't.  I would be interested to know where Vietnam
> refines its oil and what, if any, special agreements govern that process
> when, and if, it comes back into the country for use.  ie counted as an
> export, fees paid or bartered for some of the oil in trade for processing
> and then re-imported as petrol and other high volume products but not
> counted as an import as we have simply paid for its processing.
>
> Obviously something's/someone's been mistaken, good eye Shane.
> Otherwise the number as it stands would assume that exports outpace imports,
> in the case of petroleum, by 50 to 60%.   That doesn't seem correct by my
> recollection.  I will look for numbers, we are forgetting that this could be
> a simple mistatement or misprint or that it recalls a particular statistic
> taken as total that was simply for a category.
>
> Craig
>
>
-- 
Tran Dinh Hoanh, LLB, JD
Attorney of Law
Washington DC