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Vietnamese cement exports rake in USD 732 million over seven-month period

06:56 | 21/08/2020

Despite the impact of the novel coronavirus pandemic and anti-dumping measures in the Phillippines, the opening seven months of 2020 witnessed the cement industry export 19.5 million tonnes of products at a value of US$732 million, a year-on year fall of 5.4%.

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vietnamese cement exports rake in usd 732 million over seven month period
(Photo: VOV)

Despite the export volume rising by approximately two million tonnes, the value of revenue suffered a decrease of 5.4%, resulting in a fall in the export price. The national cement industry's four major export markets over the past seven months included China, Southeast Asia, the Phillippines, and Bangladesh, reported by VOV.

After importing products for many years, since 2010 Vietnam has been exporting cement. Cement has since joined a group of the country's billion-dollar export items to become the leading cement exporter in Southeast Asia in the process, with the cement industry witnessing extremely fast and impressive export growth.

This comes after the local cement industry witnessed strong export in 2018 and 2019 with production exceeding 30 million tonnes per year. 2018 is the first year that cement and clinker joined the billion-dollar export club, with a total turnover of $ 1,246 billion and an output of 32 million tons.

vietnamese cement exports rake in usd 732 million over seven month period
(Photo: Investment News)

Cement and clinker continue to maintain the performance in export volume, with a total output of approximately 34 million tons, worth USD 1,394 billion, is the second year in the top of a billion dollar export club, reported by Investment News.

The four main export markets of the cement industry in the past 7 months are China, Southeast Asia, the Phillippines, and Bangladesh. In 2019, cement and clinker continue to maintain the performance in export volume, with a total output of 34 million tons.

The Ministry of Construction estimates that cement consumption for the entire industry this year will reach between 101 million and 103 million tonnes, an increase of between 4% and 5% from last year, of which domestic cement consumption will make up roughly 70 million tonnes, with 32 million to 34 million tonnes for export.

This level of consumption is based on estimates made in late 2019 and completely excludes the unexpected factor of the Covid-19 epidemic.

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