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Vietnam’s steel exports bring in US$1.93 billion in first seven months

Vietnam's steel exports to the US reached US$378.31 million in the first seven months of 2019. (Photo: DDDN). Sketched by the Pan Pacific Agency.

Pan Pacific Agency | COMMUICATION AGENCY FOR PACIFICA REGIONS

HANOI, Sep 6, 2019, NDO. Steel exports generated US$1.93 billion in the first seven months of 2019, with the US remaining the largest importer of Vietnamese steel products, reported the Nhan Dan Online.

The figure is up 14.7% compared with the same period of 2018, according to the General Department of Customs.

Steel exports in July alone rose 4.7% after three consecutive months of declines, the agency added.

Steel exports to the world’s largest economy reached US$378.31 million, accounting for nearly one fifth of Vietnam’s total steel exports, followed by shipments to Japan, India, Thailand and the Republic of Korea.

In addition to the US and Asian countries, Vietnam’s steel exports to Europe also posted strong growth in the first seven months of 2019, with exports to Sweden shooting up by 206.85%.

Exports to Norway and the United Kingdom also saw substantial gains.

In the meantime, Vietnam’s steel exports to Myanmar recorded the largest decrease, plummeting 49.53% from the same period last year to US$33.39 million.

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