Consumption of cement products in the first 11 months of 2018 continued to smash new records, with 94.97 million tonnes consumed in both the domestic and export markets, reaching 112% compared to the set target for the whole year.
According to the Department of Building Materials (the Ministry of Construction), cement consumption in the last 11 months increased by 44% over the same period in 2017. Of which, Vietnam Cement Industry Corporation consumed approximately 26.74 million tonnes, up 15% over the same period last year.
Remarkably, consumption of cement products in the domestic market in the 11-month period reached 66 million tonnes, meeting the set target for the whole year (from 65 to 66 million tonnes). Meanwhile, the cement export market has far exceeded its target as the country exported 28.97 million tonnes of products (the 2018 export target was set from 18-19 million tonnes of cement), surpassing 65% of the set plan.
In November alone, consumption in the domestic market was estimated at 6.32 million tonnes, an increase of 8% over the same period in 2017, and a further increase of 0.23 million tonnes compared to the previous month.
Growth in consumption continues to be clearly demonstrated in the export market. In November, exports of cement products were estimated at 2.75 million tonnes, up 60% from the same period last year, and up 0.09 million tonnes from the previous month.
Experts in the field of building materials said that this impressive growth momentum will continue in the domestic market as the weather is highly favourable for construction activities at the end of the year. In the export market, exports of cement products are also expected to increase sharply as China is still halting production.