Hoa Phat to Import 7.5 Million Tonne of Iron Ore & Coal in 2021
In 2021, Hoa Phat will import nearly 2 billion USD of machinery, equipment and raw materials for production, of which the Australian market alone
In 2021, Hoa Phat will import nearly 2 billion USD of machinery, equipment and raw materials for production, of which the Australian market alone accounts for 35% of the total import value. According to the Australian Embassy in Vietnam, data from Global Trade Atlas, the total export turnover of Australia to Vietnam in 2020 is 4.4 billion USD, of which Hoa Phat reaches 705 million USD, accounting for 16%. The total value of imports from the Australian market of Hoa Phat will increase by 1.2 and 2 times in 2019 and 2020, respectively, to USD 325 million and USD 705 million. It is expected that by 2021, Hoa Phat will import from Australia 4 million tonnes of ore, 3.5 million tonnes of coal of all kinds, and 145,000 cows. With the current price level, import turnover from Australia is estimated at USD 1.44 billion, more than 2 times higher than 2020.
In terms of export value, by 2020, the Group will reach a turnover of more than USD 1 billion. The proportion of exports in the revenue of Hoa Phat 2020 will be 26%. Asian countries contribute 90% of the Group's export value. In which, the export of construction steel and high quality steel is 966 million USD, accounting for 95.2% of the export value. The rest is the contribution of other products such as steel pipes, colored galvanized steel sheet