Vietnam exported 1.36 million tonnes (mn t) of steel in Sept’21, which, in value terms, amounted to $1.4 billion, as per data released by the country’s General Administration of Customs, Customs Online (Vietnam) reported.
Also, it is seen that exports to Asia are on a decline but showing an uptrend in the EU and US.
Although exports are at a relatively high level, the volume and value have both declined m-o-m, down 11.7% and 4.3% respectively.
However, according to data from the General Administration of Customs, this is the third consecutive month that steel exports exceeded $1 billion per month.
In the third quarter alone, Vietnam’s steel exports reached a record $3.93 billion, an increase of 94.6% over the first quarter of this year and an increase of 57.7% over the second quarter of this year.
As of the end of the third quarter, exports of various types of steel was at 9.86 mn t, a y-o-y increase of 41%, and the export value was $8.43 billion, a y-o-y increase of 130.9%, with a net increase of $4.78 billion.
Exports to Asia down, US up
All types of steel are mainly exported to ASEAN, China, EU and US markets. Exports to Asia are on a downward trend, but in the EU and US markets, the increase is significant.
As of the end of September, steel exports to ASEAN exceeded 3 mn t, but down 1.7% y-o-y. Exports to China reached 2.12 mn t, down 16.2% y-o-y. Exports to the EU reached 1.7 mn t, an increase of 7.5 times. Exports to the United States reached 665,000 t, an increase of 4.5 times.
Leave a Reply