Vietnam’s imports of iron and steel reached US$1.03 billion in November, a steep decline of 31.9 percent compared to October, according to Vietnam’s General Department of Customs. Year-to-date imports totalled US$11.51 billion.
China remained Vietnam’s largest supplier, accounting for US$550.87 million, though this reflected a sharp drop of 46.04 percent month-on-month. Imports from South Korea grew by 8.17 percent, reaching US$138.92 million, while Japan recorded a 12.70 percent increase to US$135.15 million.
Other key suppliers saw mixed trends: Indonesia fell 10.33 percent to US$132.26 million, and Taiwan decreased by 5.64 percent to US$48.42 million. Thailand experienced a significant decline of 28.81 percent, reaching only US$3.58 million. France stood out with robust growth, increasing by 39.36 percent to US$1.98 million.
The steep decline in iron and steel imports highlights fluctuating demand, particularly from major suppliers like China, while other markets, such as Japan and South Korea, showed resilience.
See also: Can Vietnam Survive the Steel-Trade Wars?
Vietnam’s iron and steel imports, November 2024
| November | October | MoM | YTD | |
| Total | 1,027,784,307 | 1,508,877,331 | -31.9 | 11,505,778,744 |
| Other | 3,821,478 | 3,300,093 | 15.80% | 33,696,334 |
| China | 550,871,583 | 1,020,850,503 | -46.04% | 6,925,872,539 |
| South Korea | 138,923,909 | 128,435,247 | 8.17% | 1,105,930,441 |
| Japan | 135,146,548 | 119,914,374 | 12.70% | 1,336,286,577 |
| Indonesia | 132,262,298 | 147,492,702 | -10.33% | 1,150,031,116 |
| Taiwan | 48,421,851 | 51,317,955 | -5.64% | 584,404,806 |
| Thailand | 3,581,928 | 5,031,545 | -28.81% | 60,164,843 |
| India | 2,931,559 | 16,088,233 | -81.78% | 178,293,841 |
| France | 1,979,960 | 1,420,714 | 39.36% | 18,289,483 |
| Malaysia | 1,871,915 | 1,768,981 | 5.82% | 24,531,991 |
| Sweden | 1,494,831 | 1,510,402 | -1.03% | 12,973,795 |
| USA | 1,381,384 | 3,001,460 | -53.98% | 17,099,592 |
| Australia | 1,342,377 | 5,418,944 | -75.23% | 20,174,698 |
| Germany | 1,249,860 | 1,434,378 | -12.86% | 14,375,428 |
| Philippines | 932,281 | 1,326,538 | -29.72% | 5,463,556 |
| Spain | 575,986 | 175,634 | 227.95% | 2,988,753 |
| South Africa | 506,164 | 218,148 | 132.03% | 5,815,971 |
| Austria | 488,395 | 171,480 | 184.81% | 9,384,980 |