Vietnam’s import of aluminium tubes and pipes during 2019-20 illustrates nosedive; 19% growth estimated for 2021

Metal pipes are generally used in carrying fluids and gases in various pneumatic and hydraulic applications. Aluminum Pipe is an extruded product that is extensively utilized for all types of fabrication projects where lightweight and corrosion resistance is a primary concern.

The GDP of Vietnam is predicted to stretch by about 4.8% in 2021. However, the country posted a robust economic performance in H1 2021. Rahul Kitchlu, World Bank Acting Country Director for Vietnam said: “Whether Vietnam’s economy will rebound in the second half of 2021 will depend on the control of the current COVID-19 outbreak, the effective vaccine rollout, and the efficiency of the fiscal measures to support affected business and households, and to stimulate the recovery.”

The Southeast Asian nation, Vietnam imported 17,944 tonnes of aluminium tubes and pipes during 2019-20 and the expenditure accounted for the import was $45.03 million.

In 2019, Vietnam’s import of aluminium tubes and pipes was recorded at 10,925 tonnes and the expenditure occurred for the import was $20.37 million, whereas, in 2020, the import illustrated a nosedive of 35.75%, as the import volume dropped to 7019 tonnes while the expenditure augmented to $24.66 million.

The import for 2020 has been analysed with growth by 19.01%, as the import volume is expected to rise at 8354 tonnes and the expenditure to escalate at $39.02 million.

The major trading destinations for Vietnam’s import of aluminium tubes and pipes are China, Hong Kong, South Korea, Taiwan, Thailand, USA, etc.