Tuesday, March 28, 2023 6:05:23 PM - Markets open
VN-INDEX 1,054.29 +2.04/+0.19%
HNX-INDEX 205.76 -0.91/-0.44%
UPCOM-INDEX 75.58 -0.10/-0.13%
Vietnamese iron and steel exports to the EU soar
Vietnam News - 6/29/2021 10:43:19 AM
 (0 ratings. You must sign in to rate.)
Iron and steel exports to the EU reached 713,000 tonnes in the first five months of this year, up five times year-on-year, reported the General Department of Customs.
 
The whole country exported 4.88 million tonnes of iron and steel with a value of US$3.61 billion in the first five months of this year, a sharp increase of 61.6 per cent in volume and 117 per cent in value over the same period last year.
 
The EU, China, Cambodia, Malaysia and Mexico were the five largest import markets for Vietnamese iron and steel products.
 
Iron and steel exports have enjoyed many advantages as the demand for steel in many markets has increased strongly for many months, the Việt Nam Steel Association (VSA) told Đầu tư (Việt Nam Investment Review) newspaper.
 
Exports to the EU have increased by five times over the same period amid the impact of the EU - Việt Nam Free Trade Agreement (EVFTA), which has been in effect for nearly 10 months.
 
Many enterprises have taken advantage of opportunities to boost exports through trade facilitation.
 
The EU is known as a market that requires products to meet very high and strict standards. The sharp increase in exports partly shows Vietnamese enterprises have standardised production and satisfied the needs of consumers with high demands.
 
After only five months, Vietnamese steel exports to the EU has more than doubled compared to exports in the whole of last year.
 
Iron and steel exports reached 9.86 million tonnes, worth nearly $5.26 billion last year, but exports to the EU were only 309,000 tonnes, worth $235.5 million. — VNS
 
Read original article here
 
Newer News
16:47 Việt Nam's foreign investment plunges 39 per cent in Q1
27/03 Việt Nam's retail market proves attractive for foreign investors
24/03 Steel price rises despite falling demand
24/03 Health and vehicles to be main growth drivers for non-life insurers in 2023
24/03 Conference to promote trade and cooperation between Việt Nam and Mexico
22/03 Investors voice concerns over unresolved pricing for renewable projects
21/03 US businesses exploring investment, business opportunities in Việt Nam
21/03 Imported cars should be included in registration fee reduction scheme
20/03 US businesses exploring investment, business opportunities in Việt Nam
17/03 Trade recovers strongly since reopening
Older News
29/06 Vietnam wood exports to rise to new record level
23/06 MoIT asks for cooperation in anti-dumping investigation on imported steel products
23/06 Việt Nam records $1.35b trade deficit in first half of June
23/06 Retailers join hands for Govt’s dual goal of containing COVID, boosting economy
21/06 Vietnam’s exports to EU surge amidst COVID-19
15/06 Increases in port charges must be carefully considered: Administration
14/06 2021 economic outlook remains positive despite COVID-19 resurgence
09/06 Wood exports hit record high despite COVID-19 in five months
03/06 Aquatic product exports rise 14 percent in five months
02/06 IIP grows 10% in May
 
Newsletter Signup
Top Stories
VN-Index extends its long winning streak
Steel price rises despite falling demand
Central bank makes first rate cut since 2020 to support economic growth
Domestic investors open less than 100,000 new accounts in the first 2 months
MSN: Masan secures up to $650m syndicated loan, redeems $126.3m bonds
Market Update
Last updated at 3:05:01 PM
VN-INDEX 1,054.29 +2.04/+0.19%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.