Exports of iron and steel products surge by 41.3 pct in the first eight months of 2010

Iron and steel product exports of Vietnam in the first eight months of 2010 gained $519.11 million, up by 41.3 percent over the same period of 2009, of that export turnover of August reached $82.8 million, up by 10.7 percent over the previous month.

The US is the largest export market of Vietnam’s iron and steel products in the first eight months of 2010, with a turnover of $75.25 million, accounting for 11 percent; followed by German market with $44.58 million, accounting for 8.6 percent; and Brazilian market with $43.19 million, accounting for 8.3 percent.

Brazilian market drew special attention, with a leading turnover of $17.88 million in August 2010 and leading position in growth rate, with an extremely strong growth of 9,048 percent over July 2010. In the first eight months of 2010, exports to this market reached $43.58 million, up by 7,490 percent over the same period of 2009.

For export turnover growth over the same period of 2009, Malaysian market ranked second, with $31.81 million, up by 561 percent. UAE market ranked the third with growth rate of 308 percent, reaching $8.9 million; followed by Norwegian market (137.8 percent), Taiwanese market (121.7 percent), French market (85 percent), Chinese market (84.6 percent), Italian market (79.2 percent) and Spanish market (74.6 percent), etc. However, some markets saw significant reduction in export turnover, including Indian market (down by 68.2 percent, reaching $1.71 million); Danish market (down by 61.2 percent, gaining $2.64 million), the Philippines market (down by 41.2 percent), and Hong Kong market (down by 30.8 percent).

For export turnover in August 2010, the second market that had the strongest growth after Brazilian was Norwegian market, up by 240 percent, reaching just $0.22 million; followed by four markets with growth rates of over 40 percent to over 50 percent, including Dutch market (55.4 percent), the Philippines (50.9 percent), Hong Kong (48.7 percent), and Canadian market (41.6 percent). In contrary, exports saw the largest reduction in Taiwan (down by 67.4 percent, reaching only $2.62 million), followed by India (down by 52.4 percent, reaching $0.36 million), Denmark (down by 50 percent), Singapore (down by 46.5 percent), Japan (down by 37 percent), Belgium (down by 36 percent), Laos and Australia (down by 34 percent) and the UAE (down by 30.5 percent). – Vinanet

Tags: Vietnam exports, Vietnam exports 2010, Vietnam trade

Posted by VBN on Nov 9 2010. Filed under Import-Export, Import-Export turnover. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry