Steel exports turnover reached almost 910 million USD in the first 11 months of this year, representing a year on year increase of 179 percent in value and 20 times in volume, reported the Vietnam Steel Association (VSA).

Rolled steel took the lead with shipments up 919 percent to an estimated 650,000 tonnes. Construction steel exports increased 138 percent to some 140,000 tonnes.

Steel exports have bypassed some other major hard currency earners such as apparels and leather shoes to become the growth leader.

VSA estimated national steel production outputs at 8.7 million tonnes for the whole of 2010, representing an increase of over 26 percent as compared to 2009, of which 1.3 million tonnes will be shipped abroad.

Otherwise steel imports are expected to reduce 15 percent year on year to an estimated 1.8 million tonnes this year.

VSA Deputy President Nguyen Tien Nghi attributed the surge in steel exports to reasonable prices of domestic products and removal of subsidies by other markets in the post-economic crisis period./.