Steel exports to the US increased by more than 400%

(HQ Online) – The United States is one of Vietnam’s leading iron and steel export markets and has achieved impressive growth rates.

According to preliminary statistics from the General Department of Customs, in the first half of February (February 1-15), the country exported 377,858 tons of iron and steel of all kinds, with a turnover of 269.5 million USD.

The above results have brought the total amount of iron and steel exported from the beginning of the year to February 15 to nearly 1.54 million tons, with a turnover of nearly 1.1 billion USD. Compared to the same period in 2023, the amount of exported iron and steel increased by 65%, while the turnover increased by 66.2%.

Regarding export markets, the top 3 names are Italy, the United States and Malaysia. Notably, the export volume to these 3 markets all grew by 3 digits.

Specifically, exports to Italy (updated according to the market of the General Department of Customs by the end of January 2024) reached 203 thousand tons, an increase of 114% over the same period last year; The US reached 139 thousand tons, up 419%; Malaysia reached 120 thousand tons, up 625%.

Regarding the US market, this continues to be Vietnam’s largest export market. In January, Vietnam’s export turnover to the US reached 10.05 billion USD, up 64% (equivalent to an increase of 3.91 billion USD) over the same period last year.

In January, there were 4 groups of goods exported to the US with a turnover of 1 billion USD or more, including: Phones and components; computers, electronic products and components; machinery, equipment, tools, spare parts; textiles.

In addition, there are many groups of goods with a turnover of hundreds of millions of dollars such as: Wood and wood products; footwear; means of transport, spare parts, etc.

Source: Haiquanonline