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Vietnam’s steel industry has seen an import surplus of more than US$2 billion in the first four months of this year.

Steel trade deficit reaches over US$2 billion

According to the Vietnam Steel Association (VSA), an imbalance in the steel industry’s development strategy has led to an increase in the import of high-value steel, while the domestic supply mostly focuses on popular products.

Steel export earnings in the past four months were estimated at US$500 million, reported the VSA,

Steel is currently among the top five import surplus sectors, with its trade deficit hitting US$5 billion in 2012.

(VOV)

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