Import turnover of iron and steel hits billions of dollars

	Import turnover of raw materials for textiles, footwear, and plastics reaches tens of billions of dollars
	Export-import turnover in October reaches US$69.19 billion

Iron and steel is one of import commodities that have high turnover over the past 10 months. Photo: Tran Nghi

According to the General Department of Vietnam Customs’ report, the volume of import iron and steel of all types in October reached 2.41 million tons with a total turnover of US$1,51% billion.

The figure increased by 55.9% in volume and 41.7% in turnover compared to the previous month.

In the first 10 months, the total volume of imported iron and steel of the whole country gained 14.71 million tons with a total turnover of US$10.48 billion, up 38.2% in volume and 23.2% in turnover year-on-year.

With the turnover achieved in 10 months, iron and steel is one of the four imported commodity groups with the import turnover of US$10 billion or more.

The remaining three commodity groups include computers, electronic products and components; machinery, equipment, tools, spare parts; and fabrics of all kinds

In the past 10 months, Vietnam mainly imported iron and steel from Asian markets such as China, Japan, and Korea.

The imports from China market reached 10.16 million tons with the turnover of US$6.37 billion, up 58.9% in volume and 43.2% in turnover compared to the same period in 2023.

The imports from Japan increased by 4.6% to 1.7 million; from South Korea rose 15.3% to 1.05 million tons.

With a total import volume of 12.91 million tons, the import volume from the three markets accounted for 87.76% of the total imported iron and steel of the country.