Vietnam's agriculture conquers world markets
Vietnam currently exports a broad range of agricultural products all over the world, while many of the country's agricultural products have gained access to new markets.
According to the Vietnam's General Statistics Office, the export turnover of Vietnamese goods in June 2023 was estimated at 29.3 billion USD, up 4.5 percent over the previous month. Generally in the first 6 months of 2023, export turnover of goods is estimated at 164.45 billion USD.
Among the industries that contributed to export growth in the past 6 months, the export of vegetables and fruits, especially fruits, is experiencing impressive growth, especially in the context of the decline of many key commodity groups.
According to the latest preliminary statistics of the General Department of Customs, in the first half of June, fruit and vegetable export turnover reached US$361 million, up 206.7 percent over the same period last year.
Notably, the export turnover of vegetables and fruits in the first half of June also surpassed seafood to become the largest export group of agricultural and aquatic products.
The results achieved in the first half of June have brought fruit and vegetable export turnover from the beginning of the year to June 15 to 2.387 billion USD, up 55.4% over the same period last year, equivalent to an increase in turnover of 851 million USD.
Vietnam currently exports a broad range of agricultural products all over the world. Its key exports are walnuts, coffee, cashew nuts, rice and rubber, accounting for over $10 billion worth of agricultural exports. Many of Vietnam’s agricultural products have gained access to new markets.
Also, Vietnam’s plant-based agriculture is experiencing rapid growth and Vietnam is becoming a key player in global agriculture. The country was selected by the United Nations to host the 4th Global Conference of the One Planet Network’s Sustainable Food Systems Program in April this year.
At the same time, the World Economic Forum (WEF) selected Vietnam as one of the first three countries to pilot the Food Innovation Hub, a flagship initiative of the Food Action Alliance designed to improve sustainability in food production.
Vietnam has also signed 15 Free Trade Agreements (FTAs), with one more FTA negotiation completed in April and three others under negotiation. After implementing the Vietnam-Korea Free Trade Agreement (VKFTA), Vietnam has become the third largest mango supplier for the Republic of Korea, reaching 1,700 tonnes in the January - November period, 2022.
This is equal to 7.4 million USD. On the back of the EU-Vietnam Free Trade Agreement (EVFTA), Vietnam has become the largest source of cashew nuts for the EU. In the first 10 months of 2022, the country exported 98,900 tons of cashews to European markets, worth 699 million USD.
This represents an increase of 9.8% over the same period in 2021. The EU was also the biggest importer of Vietnamese coffee and accounted for 39% of the exports.
