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Vietnam imports less steel in first 10 months

HANOI, Nov. 3 (Xinhua) -- Vietnam spent nearly 10.3 billion U.S. dollars importing roughly 9.8 million tons of steel and iron in the first 10 months of this year, up 6.7 percent in value and down 8.5 percent in volume against the same period last year, data from the General Statistics Office showed.

In October alone, the country imported about 820,000 tons of the products worth approximately 717 million dollars, down 10.4 percent in volume and 22.9 percent in value year on year.

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 the 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.