Vietnam ranked 13th in the world in terms of steel production output in 2022, with 20 million tons, accounting for 1.1 per cent of total global supply.

Global steel makers produced 1.878 billion tons last year, a slight increase against 2019’s 1.875 billion tons, prior to the outbreak of Covid-19.

China led the world with 1.013 billion tons, followed by India, Japan, the US, and Russia.

Among the top 15 countries and territories producing steel, only India, Iran, and Indonesia posted an increase in steel production output in 2022.

Most remaining producers posted falls in production output of around 5 per cent year-on-year, while Turkey, Italy, Taiwan (China), and Vietnam witnessed double-digit falls.