The import of refined copper and copper alloys to Vietnam has shown notable fluctuations over the past decade. The value stood at USD 1753.7 million in 2023. The period from 2013 to 2023 saw an overall upward trend, with significant growth rates such as 41.15% in 2017. However, there were years of decline, such as 2018 and 2020, indicating some market volatility. The average CAGR over the last five years was 4.5%, revealing steady growth.
Over the next five years, the forecast anticipates continued growth, with the import value expected to reach USD 2101.2 million by 2028. The forecasted five-year CAGR stands at 2.84%, with a total growth rate of 15.03% from 2024 to 2028. This suggests a moderated but positive trajectory in the copper import market.
Future trends to watch for:
- Global copper price fluctuations impacting import costs.
- Technological advancements in copper usage in various industries.
- Economic policies and trade agreements affecting import tariffs and duties.
- Emerging demand from renewable energy and electric vehicle sectors.
