Vietnam’s exports of iron and steel reached US$600.08 million in May 2025, according to figures released by Vietnam’s General Department of Customs. This marks a significant decrease of 15.48 percent compared to April, bringing the year-to-date (YTD) export value to US$3.09 billion.
USA and Taiwan show impressive growth amidst overall decline:
While the overall category experienced a notable dip, the USA saw a remarkable increase of 104.79 percent in May, with exports reaching US$67.61 million. Taiwan also recorded robust growth of 68.51 percent, indicating strong demand from these markets. Cambodia maintained its position as the top destination by YTD value, with a healthy 10.65 percent increase in May.
UAE, Turkey, Singapore, and Thailand record significant month-on-month growth:
Other markets that demonstrated strong month-on-month growth in May include:
- The UAE with a surge of 151.95 percent.
- Turkey with a 95.30 percent increase.
- Singapore with a 55.72 percent rise.
- Thailand with a 42.65 percent increase.
- Laos and Myanmar also showed positive growth.
Indonesia, Australia, Spain, and India face sharp declines:
Conversely, a number of markets experienced substantial decreases in May:
- Indonesia saw the largest drop of 63.69 percent.
- Australia exports plummeted by 59.21 percent.
- Spain decreased by 47.45 percent.
- India exports fell by 36.51 percent.
- Other significant declines were observed in Brazil, Philippines, Saudi Arabia, Russia, Argentina, and Hong Kong, with Argentina and Hong Kong seeing 100% decreases.
- Belgium, Malaysia, South Korea, UK, and Poland also recorded notable drops.
The May data for Vietnam’s iron and steel exports reflects a challenging month with an overall decline. However, the strong performance in key markets like the USA and Taiwan, coupled with surges in other diverse destinations, suggests a dynamic market that is shifting amidst varying global demands.
See also: Can Vietnam Survive the Steel-Trade Wars?
Vietnam exports of iron and steel, May 2025, US$ millions
| May | April | MoM | YTD | % of YTD | |
| Total | 600.08 | 709.99 | -15.48% | 3,090.14 | 100.00% |
| Other | 76.16 | 92.84 | -17.96% | 0.00 | 0.00% |
| Cambodia | 79.95 | 72.25 | 10.65% | 362.33 | 11.73% |
| USA | 67.61 | 33.02 | 104.79% | 308.45 | 9.98% |
| India | 61.08 | 96.20 | -36.51% | 266.22 | 8.61% |
| Italy | 60.73 | 70.76 | -14.17% | 270.69 | 8.76% |
| Taiwan | 44.25 | 26.26 | 68.51% | 156.97 | 5.08% |
| Belgium | 35.06 | 43.88 | -20.10% | 165.07 | 5.34% |
| Malaysia | 29.93 | 40.23 | -25.59% | 181.05 | 5.86% |
| Thailand | 27.74 | 19.45 | 42.65% | 111.47 | 3.61% |
| South Korea | 25.67 | 33.37 | -23.07% | 145.68 | 4.71% |
| Spain | 17.64 | 33.57 | -47.45% | 122.44 | 3.96% |
| Indonesia | 17.60 | 48.49 | -63.69% | 188.26 | 6.09% |
| UK | 14.75 | 24.64 | -40.13% | 77.44 | 2.51% |
| Australia | 11.35 | 27.84 | -59.21% | 105.48 | 3.41% |
| Poland | 7.07 | 10.59 | -33.26% | 34.39 | 1.11% |
| Laos | 6.42 | 5.34 | 20.33% | 24.80 | 0.80% |
| Japan | 5.43 | 5.75 | -5.61% | 26.02 | 0.84% |
| China | 3.47 | 3.88 | -10.64% | 12.49 | 0.40% |
| UAE | 2.80 | 1.11 | 151.95% | 5.18 | 0.17% |
| Turkey | 1.33 | 0.68 | 95.30% | 24.47 | 0.79% |
| Singapore | 1.33 | 0.85 | 55.72% | 24.67 | 0.80% |
| Philippines | 0.87 | 2.71 | -67.84% | 8.09 | 0.26% |
| Brazil | 0.69 | 9.34 | -92.60% | 53.39 | 1.73% |
| Germany | 0.31 | 0.36 | -13.55% | 30.18 | 0.98% |
| Myanmar | 0.29 | 0.23 | 27.01% | 2.18 | 0.07% |
| Bangladesh | 0.27 | 0.00 | 0.00% | 0.41 | 0.01% |
| Saudi Arabia | 0.19 | 1.41 | -86.25% | 3.54 | 0.11% |
| Russia | 0.05 | 0.16 | -68.35% | 0.49 | 0.02% |
| Argentina | 0.00 | 0.18 | -100.00% | 2.48 | 0.08% |
| Hong Kong | 0.00 | 4.59 | -100.00% | 4.77 | 0.15% |