Iron, steel exports rise 13.7% to bring in US$5.2 bln in H1
VOV.VN - Vietnam exported 6.96 million tonnes of iron and steel worth US$5.125 billion in the first half of the year, a rise of 13.7% in value against the same period from last year, according to the General Statistics Office (GSO).
Most notably, the export of iron and steel based-products witnessed robust growth with turnover reaching US$2.438 billion, an increase of 26.8% compared to last year’s corresponding period.
The Vietnam Steel Association (VSA) reported that the Vietnamese steel industry recently experienced double-digit growth with the production capacity of crude steel last year reaching up to 23 million tonnes, representing a 4.6 fold rise compared to the output recorded in 2011 and an over 70-fold increase from 2001.
Last year businesses shipped 13.1 million tonnes of iron and steel abroad worth US$11.8 billion, up 32.9% in volume and 124.3% in value compared to 2020. Several products were ranked in the list of eight items with export turnover hitting over US$10 billion each.
VSA reported that the average export price of steel last year surged by 68.8% to over US$901 per tonne in comparison with 2020.
Vietnamese steel products have not only made their presence felt in the traditional markets of Southeast Asia, but have also penetrated the United States and the EU, both of which set forth stringent requirements on quality, origin, and environmental standards.
Specifically, steel exports to the ASEAN and Chinese markets last year soared by 34.3% and 12.4% to US$3.1 billion and US$1.7 billion, respectively. Meanwhile, steel exports to the EU and US also rose 8% to approximately US$1.9 billion and US$1.4 billion respectively.
