Vietnam’s Steel Exports Rise by 27% y-o-y in CY’21

Vietnam’s steel exports stood at 11.71 million tonnes (mn t) in CY’21, an increase of 27% compared to 9.24 mn t in CY’20. China and Cambodia imported heavily from Vietnam in CY’21, although export volumes witnessed a sharp decline of 26% and 20%, respectively in comparison with 2020.

China imported 2.67 mn t of steel in CY’21 versus 3.59 mn t in CY’20, while exports to Cambodia fell to 1.24 mn t from 1.55 mn t in CY’20. Steel exports to Belgium saw a significant rise of around 701% to 868,366 tonnes (t) in CY’21 as against 108,455 t in CY’20. Exports to the US rose to 1.07 mn t in CY’21 from just 191,159 t in CY’20.