The industry remains high potential for export, Sam noted at the International Exhibition Vietbuild 2018 on June 22.
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According to Sam, the building materials industry has witnessed significant improvements in the last 30 years.
During this period, Vietnam's cement production increased 31 times in productivity and 50 times in volume, while the figures for tile production were 706 times and 560 times, respectively.
In 2017, the construction sector in Vietnam witnessed a high growth rate of 8.7%, contributing 0.54 percentage points to the overall GDP growth of 6.81% and leading to a high demand in building materials.
Consequently, total cement supply in the local market reached 81 million tons by the end of 2017, up 7% compared to the beginning of the year, while the country produced 560 million square meters of tiles, up 15% year-on-year.
Vietnam currently is the fifth largest cement-producing country worldwide and the largest in Asia, exporting 20 million tons of cement in 2017, informed VABM.
With regard to tile production, Vietnam is the fourth largest producer in the world, after China, Brazil and India.
