Vietnam’s iron and steel imports from China record US$4 billion

VCN- Chinese market alone accounts form 60% of the country’s total iron and steel imports, the General Department of Vietnam Customs (GDVC) releases.
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Vietnam’s iron and steel imports from China record US$4 billion
Structure of iron and steel imports from China and other markets. Chart: T.Binh.

According to preliminary statistics of the General Department of Vietnam Customs, in the first half of November, the country imported 675,795 tons of iron and steel with a turnover of about US$ 493 million.

As of November 15, the whole country imported over 11.28 tons of iron and steel with the import turnover of US$ 9 billion, an increase of 9% in volume and decrease of 16.82% in turnover compared with the same period in the previous year.

At the end of October, the imports from China reached 6.37 million tons, a turnover of over US$ 4.44 billion, up 47.8% in volume and 3% in turnover year-on-year. The market accounts for 60% in the volume and 52.3% in import turnover of the country's iron and steel.

The import volume from Japan gained 1.62 million tons with the turnover of US$ 1.24 billion; from Indonesia at 547,213 tons with the turnover of US$ 936 million.

In addition to iron and steel, Vietnam also imports other products worth billion dollars from China. By the end of October, two commodity groups reached turnover of more than US$10 billion. Computers, electronic products and components achieved the largest turnover of US$ 18.85 billion. Machinery, equipment, tools, and spare parts gained the second largest turnover of US$18 billion.

By Thai Binh/Ngoc Loan

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