Vietnam’s steel exports fell 20.64 percent in value in September over August, according to data from Vietnam’s General Department of Customs. By the ton, they were also down 20.76 percent.
Key takeaways:
- India: Exports to India increased by 31.11 percent to 216,013 tons in September. The value also rose by 15.61 percent to US$135.68 million. Year-to-date, India received 678,744 tons worth US$564.61 million.
- United States: Exports to the USA grew by 18.68 percent in September to 171,918 tons, with the value increasing by 8.34 percent to US$126.85 million. Year-to-date, the USA imported 1,433,674 tons valued at US$1.16 billion.
- Cambodia: Exports decreased by 17.17 percent to 88,764 tons, with a value drop of 18.13 percent, totalling US$52.46 million in September. Year-to-date, exports to Cambodia amounted to 869,120 tons worth US$542.83 million.
- Significant Declines: Belgium, Spain, and Malaysia saw sharp declines in both tonnage and value, with Spain showing the largest drop in value at 46.05 percent.
- Other Notable Markets: Taiwan and South Korea also saw significant reductions in both volume and value. South Korea experienced the most drastic fall, with a 58.75 percent decrease in tonnage and a 45.30 percent drop in value.
Of note, Vietnam’s steel industry has faced a number of challenges lately with respect to trade remedies investigations in several countries as well as an influx of cheap steel from China.
See also: Can Vietnam Survive the Steel-Trade Wars?
Vietnam steel exports September, US$
| September | August | Change | YTD | |
| Total | 747,037,362 | 941,292,684 | -20.64% | 7,213,534,496 |
| India | 135,678,131 | 117,355,555 | 15.61% | 564,609,984 |
| USA | 126,847,338 | 117,082,622 | 8.34% | 1,163,811,561 |
| Cambodia | 52,463,743 | 64,082,901 | -18.13% | 542,825,035 |
| Belgium | 49,833,803 | 45,228,774 | 10.18% | 463,854,001 |
| Spain | 37,835,021 | 70,126,683 | -46.05% | 434,341,176 |
| Malaysia | 32,931,248 | 52,949,787 | -37.81% | 428,846,389 |
| Brazil | 22,892,374 | 32,038,811 | -28.55% | 180,880,844 |
| South Korea | 22,659,777 | 41,429,180 | -45.30% | 300,171,733 |
| Taiwan | 21,588,648 | 30,286,159 | -28.72% | 265,046,989 |
| Italy | 19,401,882 | 57,001,352 | -65.96% | 645,330,008 |
| Other | 224,905,397 | 313,710,860 | -28.31% | 2,223,816,776 |
Vietnam steel exports September, tons
| September | August | Change | YTD | |
| Total | 1,086,177 | 1,370,760 | -20.76% | 9,947,763 |
| India | 216,013 | 164,754 | 31.11% | 678,744 |
| USA | 171,918 | 144,862 | 18.68% | 1,433,674 |
| Cambodia | 88,764 | 107,166 | -17.17% | 869,120 |
| Belgium | 63,414 | 52,040 | 21.86% | 589,965 |
| Spain | 51,595 | 99,148 | -47.96% | 565,107 |
| Malaysia | 50,953 | 81,676 | -37.62% | 632,114 |
| Brazil | 46,607 | 58,575 | -20.43% | 311,082 |
| South Korea | 11,814 | 28,643 | -58.75% | 233,274 |
| Taiwan | 33,159 | 46,451 | -28.62% | 377,197 |
| Italy | 20,655 | 89,142 | -76.83% | 1,013,725 |
| Other | 331,285 | 498,303 | -33.52% | 3,243,761 |
Source: Vietnam Exports Tracker