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Vietnam’s steel exports to U.S. leap in January

The Saigon Times

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HCMC – Vietnam exported more than 139,000 tons of steel to the U.S. in January, generating US$113 million in revenue. The figures represented a remarkable 419% increase in volume and a 361% rise in value compared to the same period last year.

Preliminary data from the General Department of Vietnam Customs showed that in the first half of February, Vietnam exported 377,858 tons of steel, worth US$269.5 million.

This robust performance contributed to the country’s total steel exports at nearly 1.54 million tons, valued at US$1.1 billion, from January to February 15. Compared to the corresponding period last year, steel exports shot up by 65% in volume and 66.2% in value.

Apart from the U.S., Italy and Malaysia emerged as significant steel markets for Vietnam.

By the end of January, Vietnam’s steel exports to Italy expanded by 114% year-on-year to 203,000 tons, while exports to Malaysia skyrocketed by 625% to 120,000 tons.

In addition to steel exports, Vietnam’s revenue from exporting cellphone accessories, computer and electronic products, machinery, equipment, tools, and textile and garments to the U.S. each exceeded US$1 billion in January.

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