Iron and steel export turnover to this country has increased 50 times over the same period in 2022
According to data from the General Department of Customs, in February 2023, the export of iron and steel products reached 796 thousand tons, worth 602 million USD, up 18.5% in volume and sharply increased by 31.8% in value compared to that of the General Department of Customs. with the previous month.
Generally in 2 months of 2023, the whole country exported 1.43 million tons of iron and steel with a value of 1.03 billion USD, up 8.1% in volume but down 25.7% in value over the same period last year. last year.
The export volume of iron and steel in the first two months of 2023 was mainly to the following markets: ASEAN with 539,000 tons, down 4%. The US with 91,000 tons, down 47%, to the Korean market reached 48.9 thousand tons, down 46% over the same period in 2022.
A good sign for this industry of Vietnam is that exports to some countries are increasing dramatically. Specifically, exports to the EU reached 315,000 tons, up 40%. Exports to India reached 133,000 tons, 3 times higher than 4.5 thousand tons in 2022.
Notably, a country is emerging as a new potential partner with this industry of Vietnam. Iron and steel exports to Turkey in the first two months of the year reached 104,000 tons, 50 times higher than 203 tons in 2M/2022.
In February 2023 alone, Vietnam exported 40,729 tons of iron and steel to Turkey, compared with 165 tons recorded in the same period in 2022, iron and steel exports to this market increased 264 times.
After the historic earthquake, Turkey increased imports of goods to rebuild the country, so that Vietnam’s iron and steel export turnover to this market increased dramatically after the first 2 months of the year.
At a risk response meeting in Istanbul, President Erdogan announced plans to rebuild the country after the earthquake. According to the Turkish leader, reconstruction work after the earthquake will focus on rebuilding lower-rise buildings and building new ones on firmer ground. When building new settlements, he said, Turkey will redirect cities from low plains to mountains with more solid terrain.
Reuters estimates show that Turkey will spend about 120 billion euros over five years to rebuild the country, in which the goods the country is in dire need of are building materials, concrete, plywood, and plywood. .. Therefore, the opportunity for Vietnamese iron and steel enterprises is huge. In which, Turkey will need about 5 million tons of steel, including 3 million tons of rebar, 750,000 tons of coil and 1.25 million tons of steel plate for construction for 350,000 houses in the Southeast region of the country.
