Vietnam’s steel export enjoys 34% growth
Vietnam exported 3.75 million tonnes of steel in 2017, a year-on-year increase of 34%, according to the Vietnam Steel Association (VSA).
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The VSA’s data showed that the country’s steel output was 21.062 million tonnes, up 24.3% against the previous year.
Domestic steel consumption stood at nearly 18 million tonnes, 20.7% higher than the last year.
Notably, in the year, Vietnam shipped 1 million tones of building steel abroad, a year-on-year increase of 62%.
Meanwhile, the total volume of steel products imported decreased by 14% compared to 2016.
The association forecasted that the steel industry’s growth is likely to expand between 20-22% in 2018.
