Cambodia was Vietnam’s largest steel export market from January to July, importing over 887,000 tons worth more than US$508 million.

Workers tying steel bars. Photo: Hoaphat.com.vn

The figures increased by 32% year-on-year in volume and 19% year-on-year in value.

Cambodian buyers imported Vietnamese steel products for an average of $573 per ton, down 9.5% on-year.

In 2024, Cambodia was the third largest steel buyer to Vietnam.

Vietnamese steel enjoys a 0% tariff in the Cambodian market under bilateral trade promotion agreements signed during during the 7th Ayeyawady–Chao Phraya–Mekong Economic Cooperation Strategy (ACMECS), the 8th Cambodia–Laos–Myanmar–Vietnam (CLMV) Summit, and the World Economic Forum (WEF) on the Mekong.

Between January and July, Italy was Vietnam's second largest buyer to Vietnam, importing 656,000 tons of steel products worth $413 million.

The figure was down 28% on-year in both volume and value.

In the seven-month period, Vietnam sold 6.4 million tons of steel products to the world for $4.2 billion, according to the General Department of Customs.

The numbers fell from the level made in January-July 2024 as global steel prices were on a downtrend.

Vietnam's steel output in 2025 is estimated at 28-30 million tons. Domestic consumption may rise 8% - 10% on-year to reach 21-25 million tons.

Analysts predict that domestic consumption in 2025 will grow strongly, driven by public investment demand, while exports may struggle amid rising trade barriers.