Imported Iron and Steel from China increase nearly 50 %

VCN- Although the volume of imported Iron and Steel from China sharply reduced compared to the same period in 2016, the total value of turnover increased, leading to the average imported price of these commodities soaring by 48%.
imported iron and steel from china increase nearly 50
The chart compares volume and total value of turnover and the average price of imported Iron and Steel from China in January, 2017 and January, 2016. Chart by: T.B

According to the latest information from the General Department of Vietnam Customs, there was 678,865 tons of all kinds of Iron and Steel imported from China with a total value of turnover of $US 343 million in January 2017.

Compared to the same period in 2016, the volume of imported Iron and Steel fell 224,048 tons, equivalent to 25%. However, the total value of turnover increase by $US 34 million, equivalent to 11%.

Thus, the average price of imported Steel and Iron from China in January was $US 505/ton, increasing by 48% compared to the average price of January, 2016 ($US 342/ton).

Besides the notable information mentioned above, the statistical results of the General Department of Vietnam Customs showed that China still remained a stable volume of imported goods to Vietnam between January 2017 and January 2016.

Specifically, the country's total imported goods from China in January, 2017 was $US 3,943 billion turnover which was $US 9 million higher than the import turnover of $US 3,934 billion in the same period last year.

In particular, the stability of turnover value of imported goods from China took place in January, 2017 which included the Tet holidays (from January 28, 2017), meanwhile Vietnam’s import and export activity still took place normally in January 2016, because the Tet holidays of 2016 started from February 6, 2016).

imported iron and steel from china increase nearly 50 Iron and steel imports from China accounting for 59.1%

VCN- According to the statistics on import and export goods from the General Department of Customs, iron ...

To the end of January, 2017, besides Iron and Steel, other imported commodities with large turnover value are: Machine, equipment, tools and instrument were $US 857 million; telephones, mobile phones and parts thereof were $US 493 million, computers, electrical products and parts thereof were $US 482 million and fabric was $US 374 million.

By Thai Binh/Hoang Loan

Related News

The Prime Minister requested that before April 25, complete the revision of regulations on import and export of medicinal materials

The Prime Minister requested that before April 25, complete the revision of regulations on import and export of medicinal materials

VCN - The Ministry of Health, according to its assigned functions, tasks and authority, presides and coordinates with the Ministry of Finance and relevant agencies to urgently review, research, amend and complete the Ministry's regulations on import and export of medicinal materials.

Latest News

Find opportunities in niche markets to increase exports

Find opportunities in niche markets to increase exports

VCN - New markets and niche markets are the way for exports to reduce dependence on traditional markets. Exploiting opportunities in these markets will open up many new opportunities.
Vietnam transforming into new global manufacturing hub: experts

Vietnam transforming into new global manufacturing hub: experts

Vietnam is transforming into a new global manufacturing hub, offering a diverse range of products that are competitively priced and continuously improving in quality, assessed foreign distributors and importers, who will participate in the Vietnam International Sourcing expo this June.
Sustaining growth solutions for coffee exports

Sustaining growth solutions for coffee exports

VCN - The continuous increase in coffee prices has provided a strong boost for coffee exports, aiming for a record of US$5 billion. However, it still requires many comprehensive solutions to enhance quality and value to ensure sustainable development for the coffee industry in the future.
Vietnam National Brand Week to be held in mid-April

Vietnam National Brand Week to be held in mid-April

The Vietnam National Brand Week 2024 will be held nationwide from April 15-21 to raise public awareness of Vietnam national brand and promote products recognised as national brands to domestic and international communities.

More News

Textile industry in sustainability push to meet stringent requirements

Textile industry in sustainability push to meet stringent requirements

Textile and garment businesses are making a green push with development of eco-friendly products adapted to global fashion trends and by meeting the stringent requirements under free trade agreements the country has signed, according to industry insiders.
Loosening the belt buckle for sustainable development of the maritime industry

Loosening the belt buckle for sustainable development of the maritime industry

VCN - Recently, the growth of maritime and waterway transportation has been impressive, with a double-digit rate of about 10-12% per year. However, despite many advantages, the waterway system has not been efficiently utilized, commensurate with its potential. The Customs News had a discussion with Pham Quoc Long, Vice Chairman of the Vietnam Shipowners' Association, on this issue.
Vietnam ready to ride US investment wave

Vietnam ready to ride US investment wave

Vietnam is on the verge of seeing a massive influx of investments from the US, and stands ready to welcome the wave.
Investing in wages is investing in development

Investing in wages is investing in development

VCN - According to Dr. Bui Sy Loi (photo), senior expert of the Ministry of Labor, War Invalids and Social Affairs, former Deputy Chairman of the National Assembly's Committee on Social Affairs, the National Assembly's adoption of the reform policy salaries, resource decisions and salary reform policies on July 1, 2024 is a suitable time, both historical and topical, contributing to ensuring life, creating peace of mind for staff, civil servants, public employees and workers.
Import and export in the first quarter: clearer and clearer bounce- back trend

Import and export in the first quarter: clearer and clearer bounce- back trend

VCN - As calculated, total import-export turnover of goods in the first quarter of the year reached over 178 billion USD, up 15.5% year on year. Both exports and imports achieved high growth rates, clearly showing a recovery trend.
Measures sought for coffee firms to adapt to EU Deforestation Regulations

Measures sought for coffee firms to adapt to EU Deforestation Regulations

Experts gathered in the Central Highlands province of Gia Lai on April 9 to seek measures to help local coffee businesses to adapt to the EU Deforestation Regulations (EUDR) and promote exports to the EU market in particular and the world in general.
Vietnam’s export to India maintains growth momentum

Vietnam’s export to India maintains growth momentum

Vietnam kept its export growth momentum in the Indian market in 2023 after two-way trade hit a record high of 15 billion USD in 2022, Vietnamese trade counsellor in India Bui Trung Thuong told the Vietnam News Agency.
Ample room remains for Vietnam"s exports to China

Ample room remains for Vietnam"s exports to China

There remains ample room for Vietnam's exports to China and the growth will be directly proportional to the quality improvement of products by domestic enterprises, according to Dau tu (Investment) Newspaper.
Negotiating actively FTAs, increasing benefits for businesses

Negotiating actively FTAs, increasing benefits for businesses

VCN - Facing the improvement of exports in the first quarter, sharing with the press, Mr. Tran Thanh Hai, Deputy Director of the Import-Export Department (Ministry of Industry and Trade) said that many solutions will continue to be implemented to achieve the goal export growth 2024.
Read More

Your care

Latest Most read
Find opportunities in niche markets to increase exports

Find opportunities in niche markets to increase exports

VCN - To support businesses in accessing the market, Vietnamese trade agencies abroad are actively providing information and connecting Vietnamese businesses with potential markets.
Vietnam transforming into new global manufacturing hub: experts

Vietnam transforming into new global manufacturing hub: experts

Vietnam is transforming into a new global manufacturing hub, offering a diverse range of products that are competitively priced and continuously improving in quality, assessed foreign distributors and importers, who will participate in the Vietnam International Sourcing expo this June.
Sustaining growth solutions for coffee exports

Sustaining growth solutions for coffee exports

VCN - The continuous increase in coffee prices has provided a strong boost for coffee exports, aiming for a record of US$5 billion. However, it still requires many comprehensive solutions to enhance quality and value to ensure sustainable development for
Vietnam National Brand Week to be held in mid-April

Vietnam National Brand Week to be held in mid-April

The Vietnam National Brand Week 2024 will be held nationwide from April 15-21 to raise public awareness of Vietnam national brand and promote products recognised as national brands to domestic and international communities.
Textile industry in sustainability push to meet stringent requirements

Textile industry in sustainability push to meet stringent requirements

Textile and garment businesses are making a green push with development of eco-friendly products adapted to global fashion trends and by meeting the stringent requirements under free trade agreements the country has signed, according to industry insiders.
Mobile Version