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Vietnam’s iron and steel imports hit US$1.08 billion in December

Vietnam’s iron and steel imports climbed to US$1.08 billion in December 2024, a 5.15 percent month-on-month increase, according to data from Vietnam’s General Department of Customs. Year-to-date imports reached US$12.58 billion.

China remained the largest supplier, contributing US$568.42 million, a 3.19 percent rise from November. Japan recorded the most significant monthly growth among major suppliers, surging by 24.57 percent to US$168.35 million. Imports from South Korea also rose by 9.51 percent to US$152.13 million.

In contrast, Indonesia’s exports to Vietnam fell by 13.78 percent to US$114.04 million. However, smaller suppliers such as South Africa, Germany, and Australia posted remarkable increases, with South Africa recording a 481.74 percent rise, followed by Germany at 86.79 percent and Australia at 50.94 percent.

See also: Can Vietnam Survive the Steel-Trade Wars?

Vietnam’s imports of iron and steel, December 2024

DecemberNovemberMoMYTD
Total1,080,665,3901,027,784,3075.15%12,583,390,915
Other10,729,07812,546,230-14.48%135,139,363
China568,420,118550,871,5833.19%7,489,955,863
Japan168,345,691135,146,54824.57%1,504,765,388
South Korea152,130,385138,923,9099.51%1,258,824,147
Indonesia114,041,502132,262,298-13.78%1,264,072,618
Taiwan49,436,92248,421,8512.10%633,856,230
Thailand6,528,9813,581,92882.28%66,693,824
India3,727,4282,931,55927.15%182,049,502
South Africa2,944,546506,164481.74%8,760,517
Germany2,334,5601,249,86086.79%17,061,999
Australia2,026,1791,342,37750.94%22,211,464

See also: How to Start an Import Business in Vietnam

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