Liquefied Propane Price in Vietnam - 2022

Liquefied Propane Price in Vietnam (CIF) - 2022

In December 2022, the average liquefied propane import price amounted to $696 per ton, with an increase of 5.6% against the previous month. In general, the import price, however, recorded a mild reduction. The most prominent rate of growth was recorded in February 2022 when the average import price increased by 18% against the previous month. As a result, import price reached the peak level of $945 per ton. From March 2022 to December 2022, the average import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In December 2022, the country with the highest price was China ($757 per ton), while the price for the United Arab Emirates ($689 per ton) was amongst the lowest.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Nigeria (0.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Liquefied Propane Price in Vietnam (FOB) - 2022

The average liquefied propane export price stood at $839 per ton in 2022, reducing by -2.8% against the previous year. Over the last decade, it increased at an average annual rate of +2.4%. The most prominent rate of growth was recorded in 2013 when the average export price increased by 16% against the previous year. The export price peaked at $918 per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +9.6% per year.

Liquefied Propane Imports in Vietnam

In 2022, liquefied propane imports into Vietnam reached 501K tons, therefore, remained relatively stable against the year before. The total import volume increased at an average annual rate of +1.4% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2020 with an increase of 5.8%. As a result, imports attained the peak of 508K tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, liquefied propane imports contracted slightly to $221M in 2022. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 0.3% against the previous year.

Import of Liquefied Propane in Vietnam (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Qatar	36.1	24.8	58.2	68.9	24.0%
United Arab Emirates	19.5	36.6	33.7	40.6	27.7%
United States	57.8	70.5	67.2	33.8	-16.4%
Kuwait	31.8	31.0	24.0	28.9	-3.1%
Nigeria	33.4	23.2	15.1	21.4	-13.8%
Saudi Arabia	17.1	17.3	13.6	16.4	-1.4%
Australia	11.8	12.6	6.1	7.4	-14.4%
Others	14.7	4.9	3.6	3.8	-36.3%
Total	222	221	222	221	-0.2%

Top Suppliers of Liquefied Propane to Vietnam in 2022:

United States (141.1K tons)
Qatar (123.6K tons)
Nigeria (72.6K tons)
United Arab Emirates (64.9K tons)
Kuwait (47.9K tons)
Saudi Arabia (30.2K tons)
Australia (15.3K tons)

Liquefied Propane Exports in Vietnam

In 2022, liquefied propane exports from Vietnam totaled 18 tons, surging by 4.1% compared with the year before. The total export volume increased at an average annual rate of +4.2% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 with an increase of 18%. As a result, the exports attained the peak of 18 tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, liquefied propane exports stood at $15K in 2022. The total export value increased at an average annual rate of +1.2% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 4.7% against the previous year. As a result, the exports attained the peak of $15K. From 2021 to 2022, the growth of the exports failed to regain momentum.