From 2013 to 2023, Viet Nam's ores and metals imports saw fluctuations, starting at 3.72 units. The imports initially dipped slightly but began to rise in 2016 and saw a significant jump in 2018, peaking at 4.66 units in 2021. By 2023, imports reached 4.19 units, reflecting a modest year-on-year increase of 4.7%. However, the cumulative average growth rate (CAGR) over the last five years (2018-2023) was slightly negative at -1.21%.
Future trends from 2024 onward indicate a steady, though modest, increase in ores and metals imports, forecasted to reach 4.26 units by 2028, with a 5-year CAGR of 0.24%.
Trends to Watch for:
- Global economic changes impacting import demand and pricing.
- Policy shifts related to trade regulations.
- Technological advancements in metallurgy reducing import dependency.
- Environmental regulations affecting ore extraction and import patterns.
- Fluctuations in domestic production capabilities.
