Vietnam's largest mineral and ore import markets

According to the latest data compiled by the General Department of Customs, between the beginning of the year to mid-August, Vietnam spent US$1.78 billion on importing 16.1 million tonnes of ores and minerals. Compared to the same period from last year, the import volume soared by 23.8%, whilst the turnover also surged by 25.3% on-year.

In terms of markets, the country imported this item from 21 major markets during the seven-month period. Australia represented the largest Vietnamese mineral and ore import market with 6.7 million tonnes, up 34.9% on-year. Brazil was the second largest market with 4.26 million tonnes, up 55% on-year.

Most notably, the import volume of ores and minerals from Turkey increased sharply from 11,571 tonnes in the previous period to 166,258 tonnes in the current period. The nation also imported 130,372 tonnes from India, up 8.7% over the same period from last year.

China was the only market among the eight largest ones to record a decline in volume, down 35.3% on-year to 332,862 tonnes.

Among the eight largest markets importing ores and minerals from the Vietnamese market were also Cambodia, Laos, and Thailand, with imports from all countries increasing throughout the reviewed period.

In terms of turnover, ores and minerals from Australia had the largest import turnover with US$782 million, up 39.3% over the same period from last year; and Brazil with US$509 million, up 45.3% on-year.

In ASEAN, Vietnam spent around US$18 million on importing ores and minerals from Malaysia, Myanmar, and Singapore.