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Vietnam imports less steel in 11 months

HANOI, Dec. 6 (Xinhua) -- Vietnam spent approximately 11.2 billion U.S. dollars importing roughly 10.8 million tons of steel and iron in the first 11 months of this year, up 5.8 percent in value and down 6.1 percent in volume against the same period last year, data from the Vietnam Steel Association showed.

In November alone, the country imported about 1 million tons of the products worth 863 million dollars, up 23.1 percent in volume and down 5.1 percent in value year on year, according to the association.

In 2021, Vietnam spent 11.5 billion dollars importing more than 12.3 million tons of steel and iron, down 7.1 percent in volume but up 42.6 percent in value against 2020, according to its General Statistics Office.

Meanwhile, the country reaped over 11.7 billion dollars from exporting around 13 million tons of the products last year, seeing an increase of 131.9 percent in volume and a hike of 223.4 percent in value from 2020, said the office.