Vietnam’s iron and steel exports increased by 15.10 percent month-on-month in January, reaching US$611.05 million, according to Vietnam’s General Department of Customs.
The US was the largest market, accounting for 12.39 percent of total exports at US$75.71 million, surging by 231.33 percent from December. Italy followed with US$57.99 million, representing 9.49 percent of total exports, rising by 55.24 percent. Cambodia ranked third with US$53.24 million, making up 8.71 percent of total exports, though it declined by 20.75 percent.
Compared to December, Brazil recorded the highest growth, soaring by 2,132.50 percent to US$18.18 million. Germany and the Philippines also saw significant increases, rising by 124.31 percent and 101.39 percent, respectively. Meanwhile, exports to Turkey and the UAE declined sharply, falling by 98.42 percent and 82.52 percent, respectively.
The top five markets—the US, Italy, Cambodia, Spain, and Indonesia—accounted for 43.27 percent of Vietnam’s total iron and steel exports in January. The strong overall increase was driven by higher demand from the US, Spain, and Australia, despite declines in key Asian markets such as Cambodia and Malaysia.
See also: Can Vietnam Survive the Steel-Trade Wars?
Vietnam’s iron and steel exports, January, US$ millions
| January | December | MoM | YTD | % of Total | |
| Total | 611.05 | 530.88 | 15.10% | 611.05 | 100.00% |
| Other | 97.89 | 69.04 | 41.79% | 97.89 | 16.02% |
| USA | 75.71 | 22.85 | 231.33% | 75.71 | 12.39% |
| Italy | 57.99 | 37.35 | 55.24% | 57.99 | 9.49% |
| Cambodia | 53.24 | 67.18 | -20.75% | 53.24 | 8.71% |
| Spain | 47.07 | 24.66 | 90.90% | 47.07 | 7.70% |
| Indonesia | 36.57 | 25.20 | 45.12% | 36.57 | 5.98% |
| Taiwan | 30.67 | 28.20 | 8.74% | 30.67 | 5.02% |
| Belgium | 30.58 | 32.44 | -5.73% | 30.58 | 5.00% |
| Australia | 30.07 | 16.21 | 85.50% | 30.07 | 4.92% |
| Malaysia | 26.80 | 46.53 | -42.40% | 26.80 | 4.39% |
| South Korea | 24.93 | 17.73 | 40.61% | 24.93 | 4.08% |
| Singapore | 20.93 | 16.14 | 29.66% | 20.93 | 3.43% |
| Brazil | 18.18 | 0.81 | 2132.50% | 18.18 | 2.98% |
| India | 15.38 | 56.49 | -72.78% | 15.38 | 2.52% |
| UK | 11.74 | 14.86 | -20.99% | 11.74 | 1.92% |
| Thailand | 10.29 | 10.16 | 1.30% | 10.29 | 1.68% |
| Poland | 7.17 | 4.95 | 44.91% | 7.17 | 1.17% |
| Japan | 4.63 | 4.84 | -4.21% | 4.63 | 0.76% |
| Philippines | 3.12 | 1.55 | 101.39% | 3.12 | 0.51% |
| Laos | 2.64 | 4.44 | -40.56% | 2.64 | 0.43% |
| Argentina | 2.31 | 0.00 | #DIV/0! | 2.31 | 0.38% |
| Saudi Arabia | 0.75 | 0.00 | #DIV/0! | 0.75 | 0.12% |
| China | 0.72 | 1.25 | -41.90% | 0.72 | 0.12% |
| Myanmar | 0.65 | 0.00 | #DIV/0! | 0.65 | 0.11% |
| Turkey | 0.42 | 26.79 | -98.42% | 0.42 | 0.07% |
| Germany | 0.35 | 0.16 | 124.31% | 0.35 | 0.06% |
| UAE | 0.15 | 0.84 | -82.52% | 0.15 | 0.02% |
| Bangladesh | 0.05 | 0.10 | -50.80% | 0.05 | 0.01% |
| Russia | 0.05 | 0.11 | -59.56% | 0.05 | 0.01% |