Vietnam spent over 1 billion USD on meat imports in eight months

Published 2024년 9월 23일

Tridge summary

In the first eight months of 2024, Vietnam saw a significant increase in its meat and meat product imports, with the country spending nearly 1.08 billion USD, a 20.3% increase from the previous year. Despite this, its exports of meat and meat products brought in only 105 million USD, leading to a trade deficit of approximately 970 million USD. Vietnam imports from 37 countries and territories, with India, Russia, Brazil, Germany, Canada, the US, Spain, and Poland being the main suppliers. The country's heavy reliance on pork, which accounts for 65% of the CPI, means that domestic production only meets 95% of the demand.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to the General Department of Customs, in the first eight months of 2024, Vietnam spent nearly 1.08 billion USD on imports of meat and meat products. Compared to the same period last year, the import value of this group of items increased sharply by 20.3%. Vietnam's meat and meat product exports reached 105 million USD. Thus, the country had a trade deficit of about 970 million USD of meat and meat products. Imports include fresh and frozen pork, beef, poultry; edible animal by-products such as chicken feet, chicken necks, chicken skin, hearts, kidneys, gizzards, etc. Vietnam imports meat and meat products and by-products from 37 countries and territories. In the last eight months, India, Russia, Brazil, Germany, Canada, the US, Spain, and Poland have been the main sources of livestock products for Vietnam. Regarding pork consumption, Vietnam ranks 6th in the world and has a pork consumption/production ...

Source: Pig 333