Steel trade deficit reaches over US$2 billion
(VOV) -Vietnam’s steel industry has seen an import surplus of more than US$2 billion in the first four months of this year.
According to the Vietnam Steel Association (VSA), an imbalance in the steel industry’s development strategy has led to an increase in the import of high-value steel, while the domestic supply mostly focuses on popular products.
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Steel export earnings in the past four months were estimated at US$500 million, reported the VSA,
Steel is currently among the top five import surplus sectors, with its trade deficit hitting US$5 billion in 2012.