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

Jul 2024

Subnational Monthly Trade

View
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.

Explore Latest Trends

Subscribe today to OEC pro and access the latest data

Sign Up

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).

Explore Visualizations

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

View
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:

Explore Visualizations

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.

Subscribe today to OEC pro and access the latest data

Sign Up

Have questions, comments, or concerns?
Send us an e-mail: support@oec.world
Follow @OECtoday on
Created, Designed, and Developed by:
In collaboration with