2022
Exports
$4.94BWorld Rnk 20 / 226
Flag Rnk 15 / 96
2022
PRODUCT COMPLEXITY IN Iron or steel articles
1.68Rnk 27 / 1025
2022
Imports
$4.73BWorld Rnk 24 / 225
Flag Rnk 13 / 96
2022
ECONOMIC COMPLEXITY of Vietnam
0.2Rnk 55 / 133

About

Exports In 2022, Vietnam exported $4.94B in Iron or steel articles, making it the 20th largest exporter of Iron or steel articles in the world. At the same year, Iron or steel articles was the 15th most exported product in Vietnam. The main destination of Iron or steel articles exports from Vietnam are: United States ($1.29B), Japan ($563M), Germany ($301M), India ($202M), and South Korea ($191M).

The fastest growing export markets for Iron or steel articles of Vietnam between 2021 and 2022 were United States ($282M), Netherlands ($111M), and Germany ($99.8M).

Imports In 2022, Vietnam imported $4.73B in Iron or steel articles, becoming the 24th largest importer of Iron or steel articles in the world. At the same year, Iron or steel articles was the 13th most imported product in Vietnam. Vietnam imports Iron or steel articles primarily from: China ($3.32B), South Korea ($472M), Japan ($206M), Thailand ($199M), and Chinese Taipei ($127M).

The fastest growing import markets in Iron or steel articles for Vietnam between 2021 and 2022 were China ($303M), South Korea ($8.08M), and Australia ($6.77M).

COMPANIES In 2023, leading companies such as Hyosung (214), Groupe SEB (155), and Stelfast (138) were at the forefront of shipping Iron or steel articles 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 or steel articles. 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)$4.94B
IMPORTS (2022)$4.73B
NET TRADE (2022)$204M

In 2022, Vietnam exported $4.94B in Iron or steel articles. The main destinations of Vietnam exports on Iron or steel articles were United States ($1.29B), Japan ($563M), Germany ($301M), India ($202M), and South Korea ($191M).

In 2022, Vietnam imported $4.73B in Iron or steel articles, mainly from China ($3.32B), South Korea ($472M), Japan ($206M), Thailand ($199M), and Chinese Taipei ($127M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Iron or steel articles EXPORT MARKETS FOR Vietnam WERE (2021 - 2022):
United States$282M (28%)
Netherlands$111M (143%)
Germany$99.8M (49.6%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Iron or steel articles BY Vietnam WERE (2021 - 2022):
Luxembourg-$34.7M (-95%)
Laos-$31.7M (-41.6%)
Finland-$25.6M (-19.5%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Vietnam's main exporting competitors in Iron or steel articles were:
China $109B
Germany $33.5B
Italy $22.2B
In 2022, Vietnam's main importing competitors in Iron or steel articles were:

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Trade Value of Iron or steel articles by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $232M
TOP IMPORT POTENTIALChina+ $855M

Iron or steel articles’s highest export potential is United States. With an export gap of $232M.   Iron or steel articles’s highest import potential is China with an import gap of $855M.

See methodology.

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