Vietnam’s iron and steel product imports fell by 5.24 percent month-on-month in February, reaching US$491.92 million, according to Vietnam’s General Department of Customs. This follows January’s total of US$519.12 million, bringing year-to-date imports to US$1.01 billion.
China remained the leading supplier, accounting for 61.85 percent of total imports at US$304.26 million, though this marked a 20.39 percent decline from January. South Korea followed with US$61.58 million, up 28 percent, while Japan saw a significant 68.44 percent increase to US$39.63 million.
Imports from Russia totaled US$10.25 million, marking its entry into Vietnam’s steel market. Meanwhile, the USA recorded a strong growth of 65.13 percent, reaching US$10.03 million, and Sweden saw a 217.76 percent rise to US$1.51 million.
Conversely, imports from Germany and the Philippines declined by 23.54 percent and 41.45 percent, respectively, reflecting shifting trade patterns.
See also: Can Vietnam Survive the Steel-Trade Wars?
Vietnam iron and steel product imports, February 2025, US$ millions
| February | % Total | January | MoM | YTD | |
| Total | 491.92 | 100.00% | 519.12 | -5.24% | 1,013.28 |
| Other | 7.28 | 1.48% | 4.22 | 72.37% | 11.49 |
| China | 304.26 | 61.85% | 382.17 | -20.39% | 688.60 |
| South Korea | 61.58 | 12.52% | 48.11 | 28.00% | 109.73 |
| Japan | 39.63 | 8.06% | 23.53 | 68.44% | 63.18 |
| Taiwan | 15.10 | 3.07% | 14.31 | 5.52% | 29.41 |
| Thailand | 12.34 | 2.51% | 9.65 | 27.94% | 21.99 |
| Russia | 10.25 | 2.08% | 0.00 | 0.00% | 10.26 |
| USA | 10.03 | 2.04% | 6.08 | 65.13% | 16.14 |
| Germany | 5.16 | 1.05% | 6.75 | -23.54% | 11.92 |
| Malaysia | 4.79 | 0.97% | 3.62 | 32.24% | 8.42 |
| India | 2.73 | 0.55% | 5.65 | -51.70% | 8.35 |
| Italy | 2.37 | 0.48% | 1.30 | 82.68% | 3.67 |
| Spain | 2.02 | 0.41% | 2.27 | -10.94% | 4.30 |
| Philippines | 1.73 | 0.35% | 2.96 | -41.45% | 4.69 |
| Netherlands | 1.56 | 0.32% | 1.32 | 18.18% | 2.89 |
| Indonesia | 1.53 | 0.31% | 0.99 | 53.71% | 2.52 |
| Sweden | 1.51 | 0.31% | 0.48 | 217.76% | 1.99 |
| France | 1.41 | 0.29% | 0.63 | 122.16% | 2.04 |
| Denmark | 1.17 | 0.24% | 0.34 | 246.70% | 1.51 |
| UK | 1.13 | 0.23% | 0.90 | 24.89% | 2.03 |
| Singapore | 0.97 | 0.20% | 0.77 | 26.53% | 1.74 |
| Switzerland | 0.97 | 0.20% | 0.62 | 56.29% | 1.59 |
| Poland | 0.63 | 0.13% | 0.50 | 26.94% | 1.12 |
| Canada | 0.50 | 0.10% | 0.09 | 450.13% | 0.59 |
| Austria | 0.36 | 0.07% | 0.62 | -42.40% | 0.98 |
| Australia | 0.26 | 0.05% | 0.17 | 56.93% | 0.43 |
| Czech Republic | 0.24 | 0.05% | 0.33 | -26.04% | 0.58 |
| Belgium | 0.23 | 0.05% | 0.42 | -45.89% | 0.65 |
| Hong Kong | 0.10 | 0.02% | 0.04 | 126.22% | 0.14 |
| Norway | 0.06 | 0.01% | 0.28 | -78.49% | 0.34 |