Vietnam: Businesses tap opportunities to maintain fruit, vegetable exports

Published 2024년 4월 8일

Tridge summary

In the first quarter of 2024, Vietnam's fruit and vegetable export turnover experienced a remarkable increase of 27%, reaching an estimated 1.25 billion USD compared to the same period in 2023. This growth was significantly propelled by a nearly 73% surge in earnings during the first two months, as reported by the Vietnam Fruit and Vegetable Association (VINAFRUIT). Major export destinations include China, the Republic of Korea, Thailand, and Japan, with Thailand notably increasing its imports, especially of Vietnamese durian. The export outlook for 2024 is optimistic, with a projected growth of 15-20%, potentially hitting 6.5-7 billion USD, buoyed by Vietnam's engagement in various Free Trade Agreements (FTAs). Despite challenges like the Red Sea issue affecting exports to Europe and the US, exports to China and neighboring regions have seen an uptick. ASEAN continues to be a crucial market, benefiting from low logistics costs and favorable import tariffs.

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Original content

Vietnam's fruit and vegetable export turnover reached an estimated 1.25 billion USD in the first quarter of 2024, up 27% over the same period in 2023, the General Department of Customs has reported. According to the Vietnam Fruit and Vegetable Association (VINAFRUIT), the fruit and vegetable sector earned nearly 1 billion USD in the first two months of this year, surging by nearly 73% over the same period last year, showing great prospects for its future export growth. China, the Republic of Korea (RoK), Thailand, and Japan remained major markets of Vietnamese fruits and vegetables with sustained growths. Notably, among Vietnam's top 10 fruit and vegetable importers as of February 29, the Thai market recorded remarkably high growth, hitting 28.6 million USD, surging by 125.9% compared to the same period in 2023. That lifted the country's market share from 2% to nearly 4%. VINAFRUIT General Secretary Dang Phuc Nguyen attributed the result to the contribution of off-season durian, ...

Source: WTOCenter