Topic: consumption

While sustainable production is slowly taking hold around Vietnam, interest in sustainable consumption would benefit from raising awareness about what it actually means for consumers.

Consumption has fallen by 1,000 tons each year after measures were introduced to protect the ozone layer.

The Vietnam Steel Association (VSA) has reported that finished steel production in August reached 1.982 million tons, down 12 per cent compared to July and 21.6 per cent compared to August 2021. Consumption of steel of all kinds reached 2.15 million tons in the month, up 8.13 per cent against July and up 4.1 per cent against August last year. Finished steel production reached 20.808 million tons in the first eight months of the year, down 5.8 per cent over the same period of 2021, while finished steel consumption was 19.261 million tons, down 1.6 per cent.

According to the Vietnam Steel Association (VSA), finished steel production reached 2.252 million tons in July, down 6.19 per cent compared to June and 12.5 per cent year-on-year. Consumption of steel of all types stood at 1.99 million tons, down 11.48 per cent against June and 12.1 per cent year-on-year.

Figures from the Vietnam Automobile Manufacturers Association (VAMA) show that the local market excelled in July, posting a 20 per cent increase compared to June and up 88 per cent year-on-year. The popularity of the Mitsubishi Xpander returned, with it leading sales.

According to Kirin Holdings, Vietnam ranks ninth in the world in terms of beer consumption, with more than 3.8 million kiloliters consumed in 2020, or 2.2 per cent of the global total.

A number of credit institutions have recently provided large consumption loans to individual customers that are actually for real estate. According to the State Bank of Vietnam (SBV), this is potentially risky if there are fluctuations in the real estate market. It is therefore expected to issue new regulations to tackle lending for real estate that is disguised as other lending.