Iron and steel exports to the EU increased five times in the first five months year-on-year. (Photo: baocongthuong.com.vn) The whole country exported 4.88million tonnes of iron and steel with a value of 3.61 billion USD in the firstfive months of this year, a sharp increase of 61.6 percent in volume and117 percent in value over the same period last year.
The EU, China, Cambodia, Malaysiaand Mexico were the five largest import markets for Vietnamese iron and steelproducts.
Iron and steel exports haveenjoyed many advantages as the demand for steel in many markets has increasedstrongly for many months, the Vietnam Steel Association (VSA) told Dau tu (VietnamInvestment Review) newspaper.
Exports to the EU have increasedby five times over the same period amid the impact of the EU - Vietnam FreeTrade Agreement (EVFTA), which has been in effect for nearly 10 months.
Many enterprises have takenadvantage of opportunities to boost exports through trade facilitation.
The EU is known as a market thatrequires products to meet very high and strict standards. The sharp increase inexports partly shows Vietnamese enterprises have standardised productionand satisfied the needs of consumers with high demands.
After only five months,Vietnamese steel exports to the EU have more than doubled compared to exportsin the whole of last year.
Iron and steel exports reached9.86 million tonnes, worth nearly 5.26 billion USD last year, but exports tothe EU were only 309,000 tonnes, worth 235.5 million USD./.
VNA
