The quantity of cement exported and sold in the domestic market reached 85.23 million tonnes in the first ten months of 2018, already surpassing the target of 85 million tonnes for the whole year.
The Vietnam Cement Industry Corporation (VICEM) alone accounted for 23.87 million tonnes, up 14% against the same period last year, according to the Ministry of Construction’s Department of Building Materials.
Domestic cement sales in October hit 6.09 million tonnes, raising the total figure for the past ten months to 59.18 million tonnes.
Cement exports in the January-October period surged by 65% year on year to 26.05 million tonnes, far above the annual target of 7.05 million tonnes.
Industry experts have projected that cement sales in the domestic market will continue to rise toward the end of the year due to favourable weather conditions for construction projects.
Furthermore, this is the time that many construction projects are quickly being completed for sale at the end of the year, while exports are also expected to keep growing due to a lack of competition from Chinese cement.
Therefore Vietnam’s sales are forecast to far exceed the whole-year target.