2022
Exports
$8.67BWorld Rnk 21 / 223
Flag Rnk 8 / 96
2022
PRODUCT COMPLEXITY IN Iron & steel
1.68Rnk 28 / 1025
2022
Imports
$14.1BWorld Rnk 13 / 225
Flag Rnk 5 / 96
2022
ECONOMIC COMPLEXITY of Vietnam
0.2Rnk 55 / 133

About

Exports In 2022, Vietnam exported $8.67B in Iron & steel, making it the 21st largest exporter of Iron & steel in the world. At the same year, Iron & steel was the 8th most exported product in Vietnam. The main destination of Iron & steel exports from Vietnam are: United States ($1.07B), Cambodia ($900M), Italy ($721M), Malaysia ($668M), and South Korea ($624M).

The fastest growing export markets for Iron & steel of Vietnam between 2021 and 2022 were South Korea ($275M), Italy ($231M), and Singapore ($208M).

Imports In 2022, Vietnam imported $14.1B in Iron & steel, becoming the 13th largest importer of Iron & steel in the world. At the same year, Iron & steel was the 5th most imported product in Vietnam. Vietnam imports Iron & steel primarily from: China ($5.43B), Japan ($2.24B), South Korea ($1.38B), Indonesia ($1.12B), and Chinese Taipei ($1.02B).

The fastest growing import markets in Iron & steel for Vietnam between 2021 and 2022 were Indonesia ($525M), China ($520M), and Malaysia ($59.3M).

COMPANIES In 2023, leading companies such as Home Depot (210), Hyosung (43), and Mattel (28) were at the forefront of shipping Iron & steel from Vietnam to the United States.

Latest Trends

Sep 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Iron & steel. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$8.67B
IMPORTS (2022)$14.1B
NET TRADE (2022)-$5.41B

In 2022, Vietnam exported $8.67B in Iron & steel. The main destinations of Vietnam exports on Iron & steel were United States ($1.07B), Cambodia ($900M), Italy ($721M), Malaysia ($668M), and South Korea ($624M).

In 2022, Vietnam imported $14.1B in Iron & steel, mainly from China ($5.43B), Japan ($2.24B), South Korea ($1.38B), Indonesia ($1.12B), and Chinese Taipei ($1.02B).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Iron & steel EXPORT MARKETS FOR Vietnam WERE (2021 - 2022):
South Korea$275M (78.8%)
Italy$231M (47.3%)
Singapore$208M (1.72k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Iron & steel BY Vietnam WERE (2021 - 2022):
China-$1.62B (-94.4%)
Mexico-$580M (-72.8%)
Belgium-$445M (-61.1%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Vietnam's main exporting competitors in Iron & steel were:
China $69.8B
Germany $36.9B
Japan $35.7B
In 2022, Vietnam's main importing competitors in Iron & steel were:

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Trade Value of Iron & steel by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $174M
TOP IMPORT POTENTIALChina+ $643M

Iron & steel’s highest export potential is China. With an export gap of $174M.   Iron & steel’s highest import potential is China with an import gap of $643M.

See methodology.

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