| In the first 8 months of the year, iron and steel exports decreased in both volume and turnover. The amount of iron and steel exports increased, but turnover decreased. |
According to preliminary statistics from the General Department of Customs, Vietnam's iron and steel exports in September decreased sharply, reaching the lowest level in the past 7 months, reaching 864,424 tons, with a value of nearly 611 million USD, down 12.5% in volume and 13.5% in value compared to August; but compared to the same period last year, it still increased 63.6% in volume and 43.6% in value.
In September, iron and steel exports to major markets such as the EU, the United States, and Southeast Asia (Cambodia, Indonesia, Malaysia) decreased sharply compared to August. In contrast, exports to some markets such as India increased by 193.1% in volume and 147.9% in value; Türkiye increased by 303 times in volume and 52 times in value.
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| Vietnam's iron and steel exports in September decreased in volume and value. |
In the first 9 months of 2023, iron and steel exports reached more than 8.23 million tons, worth nearly 6.30 billion USD, up 27.4% in volume, but down 3.3% in value compared to the same period in 2022.
In terms of markets, Vietnam's iron and steel exports to Singapore increased dramatically with the strongest increase among export goods.
Specifically, exports of iron and steel of all kinds to Singapore in September reached 63,535 tons, worth more than 34.2 million USD, a sharp increase of 19,329% in volume and 5,542% in turnover compared to September 2022.
By the end of September, iron and steel exports to this market reached more than 230,451 tons, equivalent to 131.78 million USD, down 4.2% in volume and 27.8% in value due to low volumes in previous months. The average export price in the first 9 months of the year reached 571.8 USD/ton, a shocking decrease of nearly 70% compared to the same period in 2022.
According to the General Department of Vietnam Customs, the export turnover of goods to the Singapore market in September 2023 reached 3.09 billion USD, down 13.02% compared to the previous month, but up 1.9% compared to September 2022. In the first 9 months of 2023, the export turnover of goods to the Singapore market reached 3.09 billion USD, down 8.4% over the same period last year.
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