Forecast: Import of Iron and Steel to Viet Nam

In 2023, Viet Nam’s import of iron and steel stood at 12.7 billion US dollars. The forecasted data from 2024 onwards indicates a steady increase. For 2024, imports are expected to reach 13.115 billion US dollars, reflecting a year-on-year growth of 3.3%. In 2025, the figure is forecasted at 13.514 billion US dollars with a 3.0% increase from the previous year. By 2026, imports are expected to hit 13.906 billion US dollars, growing by 2.9% year-on-year. The growth continues in 2027, with imports forecasted at 14.29 billion US dollars, marking a 2.8% rise. By 2028, iron and steel imports are projected to reach 14.666 billion US dollars, demonstrating a 2.6% year-on-year growth. Over the last five years, the compound annual growth rate (CAGR) is expected to average around 2.93% annually.

Future trends to watch for include fluctuations in global steel prices, changes in Viet Nam’s domestic production capacity, potential trade tariffs, and evolving demand from key sectors such as construction and manufacturing. These factors will be crucial in shaping the import landscape for iron and steel in Viet Nam over the coming years.