Vietnam’s imports of iron and steel products decreased by 14.88 percent month-on-month in January, reaching US$519.12 million, according to Vietnam’s General Department of Customs. This follows a decline from US$609.84 million recorded in December.
Year-to-date, Vietnam’s total imports of iron and steel products stood at US$519.12 million. China remained the largest supplier, contributing US$382.17 million, or 73.7 percent of the total. South Korea followed with US$48.11 million, representing 9.3 percent, while Japan supplied US$23.53 million.
Among major suppliers, Taiwan recorded the highest month-on-month growth, rising 5.59 percent. Spain also posted a significant increase of 448.06 percent. In contrast, the UK experienced the sharpest decline, with imports falling 70.73 percent. South Africa and Australia also saw notable drops of 71.85 percent and 59.98 percent, respectively.
The industry continues to rely heavily on China, which accounted for more than 70 percent of Vietnam’s iron and steel product imports. While Taiwan and Spain showed strong growth, overall imports from most key suppliers fell, indicating shifting trade patterns and possibly weaker demand in the sector.
See also: Can Vietnam Survive the Steel-Trade Wars?
Vietnam iron and steel product imports, January, US$ millions
| January | December | MoM | YTD | % of Total | |
| Total | 519.12 | 609.84 | -14.88% | 519.12 | 100.00% |
| Other | 4.22 | 11.41 | -62.99% | 4.22 | 0.81% |
| China | 382.17 | 430.29 | -11.18% | 382.17 | 73.62% |
| South Korea | 48.11 | 65.80 | -26.89% | 48.11 | 9.27% |
| Japan | 23.53 | 32.71 | -28.07% | 23.53 | 4.53% |
| Taiwan | 14.31 | 13.55 | 5.59% | 14.31 | 2.76% |
| Thailand | 9.65 | 13.19 | -26.85% | 9.65 | 1.86% |
| Germany | 6.75 | 6.09 | 10.92% | 6.75 | 1.30% |
| USA | 6.08 | 10.35 | -41.28% | 6.08 | 1.17% |
| India | 5.65 | 4.18 | 35.20% | 5.65 | 1.09% |
| Malaysia | 3.62 | 3.55 | 2.09% | 3.62 | 0.70% |
| Philippines | 2.96 | 2.96 | -0.13% | 2.96 | 0.57% |
| Spain | 2.27 | 0.41 | 448.06% | 2.27 | 0.44% |
| Netherlands | 1.32 | 2.42 | -45.22% | 1.32 | 0.26% |
| Italy | 1.30 | 1.91 | -31.90% | 1.30 | 0.25% |
| Indonesia | 0.99 | 1.12 | -11.30% | 0.99 | 0.19% |
| UK | 0.90 | 3.08 | -70.73% | 0.90 | 0.17% |
| Singapore | 0.77 | 0.78 | -2.13% | 0.77 | 0.15% |
| France | 0.63 | 0.92 | -31.09% | 0.63 | 0.12% |
| Austria | 0.62 | 0.65 | -4.38% | 0.62 | 0.12% |
| Switzerland | 0.62 | 0.92 | -32.55% | 0.62 | 0.12% |
| Poland | 0.50 | 0.70 | -29.26% | 0.50 | 0.10% |
| Sweden | 0.48 | 0.41 | 15.95% | 0.48 | 0.09% |
| Belgium | 0.42 | 0.27 | 58.34% | 0.42 | 0.08% |
| Denmark | 0.34 | 0.62 | -45.28% | 0.34 | 0.06% |
| Czech Republic | 0.33 | 0.18 | 83.56% | 0.33 | 0.06% |
| Norway | 0.28 | 0.46 | -39.61% | 0.28 | 0.05% |
| Australia | 0.17 | 0.42 | -59.98% | 0.17 | 0.03% |
| Canada | 0.09 | 0.43 | -78.71% | 0.09 | 0.02% |
| Hong Kong | 0.04 | 0.08 | -43.30% | 0.04 | 0.01% |