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Steel industry to join 10-billion USD export club

With a record export growth rate in the first nine months of 2021, steel is forecast to soon join the 10-billion USD export club.
Steel industry to join 10-billion USD export club ảnh 1Illustrative image (Photo: VNA)
Hanoi (VNA) – With a record export growth rate in the first ninemonths of 2021, steel is forecast to soon join the 10-billion USD export club.

As of October 15, Vietnam had earned 9.04 billion USD fromshipping steel and steel products abroad, up 135.3 percent against that of the sameperiod last year.

Statistics of the Ministry of Industry and Trade’sImport-Export Agency show that the export turnovers of steel and steel products in thethree most recent months all surpassed 1 billion USD, with nearly 1.1 billionUSD in July, 1.19 billion USD in August and 1.17 billion USD in September.

According to the Vietnam Steel Association (VSA), steelexports are favourable when demand in many markets is increasing sharply.

Orders from many major markets are still increasing, whilethe production capacity of the domestic steel industry continues to be strengthenedby big projects of Hoa Phat, Nam Kim and Hoa Sen. Therefore, it is expectedthat the steel industry will join the 10-billion USD export club in the firsthalf of November.

In 2020 and the first nine months of 2021, Vietnam had sixcommodities listed in the 10-billion USD export club, including phones andcomponents, garment and textiles, footwear, wood and wood products, computersand components, and machinery, equipment and spare parts./.
VNA
#10-billion USD export club #steel #steel products #Vietnam Steel Association #Vietnam #Vietnamplus #Vietnam News Agency
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