Steel exports in Vietnam increased by 127%!

Steel exports reached 8.54 million tons, up 43.4 percent year on year, and US$ 7.1 billion, up 127 percent in the first eight months.

In August, for the second month in a row, the value of shipments increased 2.5 times to nearly $1.5 billion, crossing the billion-dollar mark.

The main export markets were Southeast Asia and China (1.8 million tons), which purchased 2.7 million tons.

Exports to the EU and the USA increased 7.5 times and quadrupled compared to 12 months ago as demand continued to increase.

Exports to Europe also benefited from the EU-Vietnam Free Trade Agreement, with many companies benefiting from lower tariffs.

According to the Vietnam Steel Association, the country's production capacity is about 24 million tons per year. This year's production is expected to reach 21.2 million tons, enough to meet domestic and export needs.