Hundreds of thousands of tons of Vietnamese steel continuously enter Cambodia, exports in 7 months exceeded 4.5 billion USD

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In the first 7 months of 2026, Vietnam exported nearly 7 million tons of iron and steel, reaching a turnover of about 4.5 billion USD. Cambodia continues to be one of the major consumer markets, with more than 900,000 tons of steel imported from Vietnam. The advantage of a 0% tariff rate for some products is creating more impetus for bilateral trade flows.

Steel Exports Increase Both Output And Value

According to preliminary statistics of the General Department of Customs, in the first 7 months of 2026, Vietnam’s iron and steel exports will reach nearly 7 million tons, equivalent to a turnover of about 4.5 billion USD, increasing in both volume and value over the same period in 2025.

This result shows that the export activities of the steel industry still maintain resilience in the context that demand in some regions of the world has not fully recovered. Notably, the structure of the export market is undergoing certain changes as the ASEAN region continues to play an important role, while the United States, India and some other markets recorded positive demand.

In the group of major markets, the United States ranks first in terms of steel imports from Vietnam. In 7 months, this market imported about 913,000 tons, worth more than 581 million USD, up 47% in volume and 50% in value respectively over the same period last year. The average export price reached about 636 USD/ton.

Right behind the United States is Cambodia, with more than 900,000 tons of iron and steel, equivalent to a turnover of more than 539 million USD. The volume and value of exports to this market both increased slightly over the same period, while the average export price reached about 595 USD/ton, up about 4%.

India is in third place, importing nearly 413,000 tons of iron and steel from Vietnam, with a turnover of more than 420 million USD.

Cambodia – Close Market, Great Demand

Notable in the steel export picture is that the flow of goods from Vietnam to Cambodia continues to maintain a large scale.

One of the factors supporting export activities is that some Vietnamese iron and steel products enjoy a 0% tax rate when exported to Cambodia, according to the Agreement to Promote Bilateral Trade between the two countries.

The advantage of geographical distance, along with favorable trade conditions, makes Cambodia a remarkable market for Vietnamese steel enterprises. With more than 900,000 tons in 7 months, Cambodia currently occupies an important position in the group of Vietnam’s largest steel export markets.

For businesses, the ASEAN market in general has the advantage of relatively stable demand and lower levels of tariff barriers than some markets outside the region. This is also one of the directions that many Vietnamese businesses are interested in in the process of expanding the export market.

Exports Increase But The Steel Industry Still Has A Trade Deficit

Behind the figure of 4.5 billion USD in exports, there is still a remarkable paradox: Vietnam’s steel industry continues to import a surplus.

According to the data mentioned in the document, in the first 7 months of the year, Vietnam imported more than 9 million tons of iron and steel, with a total value of about 6.6 billion USD. Thus, the amount of steel imported is about 2 million tons higher than exports, while the trade balance of the steel industry has a deficit of about 2.1 billion USD.

The gap between exports and imports shows that domestic production is still significantly dependent on imported steel and raw materials. Therefore, although exports are recording positive signals, this growth cannot mean that the trade balance of the industry has been comprehensively improved.

This will continue to be a remarkable problem for the steel industry in the coming time: both expanding export markets, improving domestic production capacity and reducing dependence on external raw materials.

Ahead Is Pressure From Trade Remedies And Carbon Standards

If the ASEAN market is opening up room for growth, major markets such as the United States and Europe are placing increasingly strict requirements on Vietnamese steel.

The year 2026 is considered to be the period when trade remedies in the world become more complicated. The global steel capacity glut is prompting many countries to increase protectionist measures to protect domestic manufacturing.

In the United States, imported steel is under pressure from tariff policies under Section 232 of the Trade Act, with tariffs that can be as high as 50% on some products. Along with that, trade remedy cases against Vietnamese steel continue to be initiated, creating more pressure on exporters.

Not only commercial barriers, carbon barriers are also becoming an increasingly obvious influencing factor.

Major markets are increasingly focusing on sustainable development, reducing greenhouse gas emissions and applying cross-border carbon regulation mechanisms. In particular, the European Union’s Carbon Border Adjustment Mechanism (CBAM) is forcing steel producers to pay more attention to emissions throughout the entire production process.

This is a significant challenge for Vietnamese steel enterprises in the context that the industry is still dependent on imported raw materials and needs more time to transform technology towards low emissions.

Problems For The Second Half Of The Year

The figures in the first 7 months of the year show that Vietnam’s steel exports are still maintaining significant growth momentum. Nearly 7 million tons of steel exported, equivalent to about 4.5 billion USD, is a positive signal in the context of many volatility in the global economy.

However, the outlook for the last months of the year will not only depend on market demand. Businesses also face price competition, trade remedies, emission reduction requirements and increasingly stringent carbon standards.

Against this backdrop, maintaining advantageous markets such as Cambodia and the ASEAN region may continue to play an important role. In parallel with market expansion, the ability to adapt to new standards and improve product competitiveness will be a decisive factor in the ability to maintain the export growth momentum of Vietnam’s steel industry in the rest of 2026.

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