The VSA’s data showed that the country’s steel output was 21.062 million tonnes, up 24.3% against the previous year. Domestic steel consumption stood at nearly 18 million tonnes, 20.7% 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%. Meanwhile, the total volume of steel products imported decreased by 14% compared to 2016. The association forecasted that the steel industry’s growth is likely to expand between 20-22% in 2018.
Illustrative image (Source: VNA)Hanoi (VNA) – Vietnam exported 3.75 million tonnes of steel in2017, a year-on-year increase of 34 percent, according to the Vietnam SteelAssociation (VSA). The VSA’s data showed that thecountry’s steel output was 21.062 million tonnes, up 24.3 percent against theprevious year. Domestic steel consumption stood at nearly 18 million tonnes, 20.7 percenthigher 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 percentcompared to 2016. The association forecasted that the steel industry’s growth is likely to…... [read more]
Shrimp exports have made an impressive breakthrough though the country's other export commodities are facing difficulties since the beginning of the year. With the US Department of Commerce (DOC) lifting dumping duty on Vietnamese shrimp, exports are seeing an advantageous growth. All 33 Vietnamese shrimp exporters will enjoy a zero tax on products imported to the US during the period from February 1, 2011 to January 31, 2012, according to DOC's final decision. According to Vietnam Association of Seafood Exporters and Producers (VASEP), Vietnamese shrimp products were officially imposed anti-dumping duty of 4.57 percent by the US in 2004. However,…... [read more]
Vietnam’s export growth performance has become a highlight of the national economy in 2017 as total import-export revenues reached the US$400 billion milestone, with exports estimated to make up the impressive figure of US$200 million.FTAs allow export market expansionEconomic adviser Vo Tri Thanh has attributed the country’s bright economic outlook in 2017 to Vietnam’s successful hosting of the APEC Economic Leaders’ Week with the signing of trade deals worth up to US$20 billion, the exponential growth of 21% against the set target of 10%. Such growth is attributed to the development of domestic enterprises and increases in exports farm produce, especially…... [read more]
The expansion is about 2.6 times faster than the growth of the general industrial production index during the reviewed period, data from the General Statistics Office (GSO) show. It is also an auspicious start for the industry to achieve the record productivity of 14.9 million tonnes this year, compared to about 10.92 million tonnes in 2011 and 12.5 million tonnes in 2015. The production growth is partly attributable to an increase in domestic demand as 12.53 million tonnes of iron and steel products were consumed from January to May, or more than 2.5 million tonnes each month. Exports of those…... [read more]
Traditional markets like the United States and the European Union saw more humble export growth at 6.3 – 6.4 %. The VITAS noted that traditional products grew by 13 – 17 % while newer ones, including swimming suits, raincoats and scarves, increased by 18 – 41 %. New products and different ways to approach markets have resulted in higher and more stable growth, while helping the industry rely less on traditional partners, the VITAS said. The association forecasted exports to increase by 10 % in the second quarter of the year based on the recovery of main markets such as…... [read more]