Fallen global oil price impacts Vietnam’s economy

by VTV23 August 2015 Last updated at 09:00 AM

VTV.vn - Vietnam’s crude oil currently incurred nearly US$2.5 billion worth of value loss compared to the same period last year, due to the U.S. oil price's decline to its lowest level in six years on Friday.

Vietnam exported more than 5.7 million metric tons of crude oil as of August 15. The collapse of oil prices will affect the Vietnamese economy in both positive and negative ways, according to analysts. The downside is less crude oil export. However, the country’s production and manufacturing sector can benefit from lower fuel, coal, and gas prices. Consumers will also benefit from a lower petrol price./.

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