Vietnam’s steel export enjoys 34-percent growth hinh anh 1Illustrative image (Source: VNA)

Hanoi (VNA) – Vietnam exported 3.75 million tonnes of steel in 2017, a year-on-year increase of 34 percent, according to the Vietnam Steel Association (VSA).

The VSA’s data showed that the country’s steel output was 21.062 million tonnes, up 24.3 percent against the previous year.

Domestic steel consumption stood at nearly 18 million tonnes, 20.7 percent higher than the last year.

Notably, in the year, Vietnam shipped 1 million tones of building steel abroad, a year-on-year increase of 62 percent.

Meanwhile, the total volume of steel products imported decreased by 14 percent compared to 2016.

The association forecasted that the steel industry’s growth is likely to expand between 20-22 percent in 2018.-VNA