Vietnam Agricultural & Seafood Exports

Vietnam Exports Overview

In 2023, Vietnam’s export turnover of agricultural and seafood products reached USD 32.5 billion, up 5.3% compared to 2022. Exports to the Asian market achieved an impressive growth of 14.7%, while other markets like Europe and America saw declines.

Export Markets

– Asia: USD 19.5 billion, up 14.7%

– Europe: USD 4.6 billion, down 7.6%

– America: USD 4.1 billion, down 15.2%

– Africa: USD 1.05 billion, up 25%

China and the United States are Vietnam’s largest export markets for agricultural and seafood products, with export turnovers of USD 9.8 billion and USD 3.3 billion, respectively.

Export Items

– Fruits and Vegetables: USD 5.6 billion, up 66.7%

– Rice: USD 4.7 billion, up 35.3%

– Cashew Nuts: USD 3.6 billion, up 18.1%

– Coffee: USD 4.2 billion, up 4.6%

– Seafood: USD 9.0 billion, down 17.8%

– Rubber: USD 2.9 billion, down 12.8%

– Cassava and Cassava Products: USD 1.3 billion, down 7.3%

– Pepper: USD 910 million, down 6.2%

– Tea: USD 208 million, down 12%

The turbulent year of 2023 significantly impacted the global agricultural and seafood markets. However, thanks to timely support policies and smart solutions, Vietnam successfully overcame challenges and maintained stable export activities for key commodities.

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Vietnamese Rice Expands Globally

Rice production grew by 1.9% compared to 2022, reaching 43.5 million tons. Rice export turnover reached an impressive USD 4.7 billion, up 35.3% compared to the previous year. Particularly, fragrant rice and high-quality rice are increasingly favored, expanding their market share in demanding markets like Australia and Europe.

The export turnover of rice reached USD 4.7 billion, up 35.3% compared to 2022. Rice production reached 43.5 million tons, up 1.9% compared to the previous year. The average export price of rice in 2023 was USD 575/ton, up 18.3% compared to 2022. Fragrant rice, ST rice, and Japonica rice were the high-value rice types exported strongly this year. The rice export market was diversified, with the Philippines, Indonesia, and China being the three largest markets.

In 2023, Vietnam’s rice export achieved significant success, ensuring benefits for rice farmers and balancing between exports and domestic consumption. Thanks to effective export management, the domestic prices of rice and paddy were stabilized, and international commitments were well implemented.

However, Vietnam’s rice export activities still face many challenges, such as increasing production costs due to higher agricultural input prices, putting pressure on businesses while export prices have not risen correspondingly. Additionally, Vietnamese rice exports face fierce competition from other suppliers like Thailand, Myanmar, Pakistan, and high international freight rates due to geopolitical developments in Europe and the Middle East.

Vietnam Seafood Facing Many Challenges

Seafood export turnover reached nearly USD 9 billion, down 17.8% compared to 2022. This decline was mainly due to competitive pressure and high inventory levels in major markets, along with inflation reducing consumer demand. The total seafood production in 2023 is estimated at 9.31 million tons, up 2.2% compared to 2022. Of which:

– Fish: 6.61 million tons, up 1.8%

– Shrimp: 1.36 million tons, up 5%

– Other seafood: 1.34 million tons, up 1.7%

In 2023, seafood exports to almost all markets decreased compared to 2022.

– CPTPP: USD 2.42 billion, down 16%

– USA: USD 1.56 billion, down 27%

– EU: USD 869 million, down 29%

– China: USD 1.3 billion, down 15%

– Japan: USD 1.52 billion, down 11%

While exports to the USA and EU dropped sharply due to high inventory levels and inflation, the Chinese market saw increased import demand, but lower import prices led to reduced export turnover. Additionally, China’s amendment of the Wildlife Protection Law in 2023 disrupted lobster imports from Vietnam.

Fruits and Vegetables - A Bright Spot in 2023 Vietnam Exports

In 2023, Vietnam’s fruit and vegetable exports saw impressive growth. Export turnover of fruits and vegetables reached USD 5.6 billion, up 66.7% compared to 2022. Major items like durian, jackfruit, mango, and passion fruit all recorded high growth, especially durian with a 430% increase, reaching USD 2.24 billion. Accordingly, the production of many major fruits in 2023 increased compared to 2022:

– Mango: reached 1,004 thousand tons, up 3.2%

– Orange: reached 1,842 thousand tons, up 4.5%

– Durian: reached 1,056 thousand tons, up 17.8%

– Longan: reached 655 thousand tons, up 2.6%

– Banana: up 2.5% to 2,527 thousand tons

– Grapefruit: up 4.2% to 1,027 thousand tons

– Coconut: up 2.4% to 1,963 thousand tons

– Lychee: reached 376 thousand tons, slightly up compared to 2022

China continues to be the largest consumer market with a turnover of USD 3.6 billion, accounting for 65% of Vietnam’s total fruit and vegetable exports. The growth in fruit and vegetable exports to China in 2023 has shown the adaptation efforts of Vietnamese production and export-import businesses. Currently, Vietnam has 13 types of agricultural and fresh fruits allowed to export to China, including dragon fruit, watermelon, lychee, longan, banana, mango, jackfruit, rambutan, mangosteen, black jelly, chili, durian, sweet potato, and passion fruit. Besides China, Vietnam’s fruit and vegetable export turnover also recorded positive growth in other markets thanks to the advantages of Free Trade Agreements (FTAs).

– China: The largest fruit and vegetable consumption market, reaching USD 3.6 billion, up 138.7% compared to 2022, accounting for 65% of total fruit and vegetable export turnover.

– USA: Reached USD 257.7 million, up 4% compared to 2022.

– South Korea: Reached USD 225.8 million, up 24.9% compared to 2022.

– EU: Reached USD 227.6 million, up 22.2% compared to 2022. The Netherlands and Germany are the two main export markets in this region.

Coffee Continues to Grow

In 2023, the situation of Vietnam’s coffee import and export recorded many positive developments. Vietnam continues to maintain its position as the world’s second-largest coffee exporter, after Brazil. Total coffee export turnover reached 1.62 million tons, valued at USD 4.24 billion, down 8.7% in volume but up 4.6% in value compared to 2022. The average export price reached USD 2,614/ton, up 14.5% compared to the previous year, thanks to the price increase of Robusta coffee.

Export Types:

– Robusta coffee: Accounts for the largest proportion in the coffee export structure (78.5%), reaching USD 3.2 billion, up 2.8% compared to 2022. The average export price reached USD 2,253/ton, up 14% compared to 2022.

– Arabica coffee: Both volume and export prices decreased, by 32.8% and 9.3%, respectively.

Export Markets:

– EU: Accounts for 35% of total coffee export volume, reaching USD 1.48 billion, slightly down 0.7% compared to 2022. Many markets in the EU achieved high growth rates, such as Denmark, the Netherlands, and Portugal.

– Japan: Reached USD 319 million, up 14.9%.

– China: Reached USD 152 million, up 10.3%.

– USA: Reached USD 293 million, down 4.1%.

– Russia: Reached USD 245 million, down 1.7%.

Additionally, some emerging markets like Indonesia, Algeria, Myanmar, and New Zealand also recorded significant growth compared to 2022.

Maintaining quality and enhancing trade promotion activities have helped Vietnamese coffee increase its value in the international market. Coffee export businesses need to continue improving production processes, meeting high-quality standards to expand the market and increase added value for coffee products.

Other Commodities

Cashew Nuts

In 2023, cashew nut exports reached 644 thousand tons, valued at USD 3.64 billion, up 24% in volume and 18.1% in value compared to 2022. W320, W240, and W180 cashew nuts accounted for the largest proportion in the export structure. The USA and China are the two largest import markets for Vietnamese cashew nuts, with turnovers of USD 886 million and USD 683 million, respectively.

Rubber

Natural rubber exports in 2023 reached over 2.1 million tons, valued at USD 2.9 billion, slightly down 0.1% in volume and 12.8% in value compared to 2022. This decline was due to a 12.7% drop in the average export price. China continues to be the largest import market for Vietnamese natural rubber.

Cassava & Cassava Products

In 2023, cassava and cassava product exports reached 2.95 million tons, valued at USD 1.3 billion, down 9.1% in volume and 7.3% in value compared to the previous year. Cassava starch accounted for the largest proportion in the export structure, reaching USD 1.07 billion. China is the largest import market for cassava and cassava products.

Pepper

Pepper exports in 2023 reached 266 thousand tons, valued at USD 910 million. Export volume increased by 16.3% compared to the previous year, but turnover decreased by 6.2%. Pepper exports to major markets decreased, except for Turkey, Saudi Arabia, and Australia.

Tea

Tea exports reached nearly 120 thousand tons, valued at over USD 208 million, down 18% in volume and 12% in value compared to 2022. Pakistan, Taiwan, and Russia are the three largest markets for Vietnamese tea. The Vietnamese tea industry faces many challenges and needs to diversify its markets, improve product quality, and enhance production linkage for sustainable development.

Prospects for Vietnam's Agricultural and Seafood Exports

The year 2023 has shown the remarkable resilience and adaptability of Vietnam’s agricultural and seafood sectors. However, to maintain and promote growth in the future, the industry needs to focus on several key factors:

1. Quality and Food Safety: Continue to improve quality and ensure food safety to meet increasingly stringent requirements of import markets.
2. Market Diversification: Expand to new markets, especially potential markets in Africa, the Middle East, and Latin America.
3. Developing Value-Added Products: Invest in deep processing to increase the added value of agricultural and seafood products for better competitiveness.
4. High-Tech Application: Apply modern technology in production and processing to improve productivity, quality, and efficiency.
5. Production and Consumption Linkage: Strengthen the linkage between production, processing, and export enterprises to create a sustainable value chain.
6. Promoting E-Commerce: Utilize e-commerce platforms to expand markets and reach consumers directly.
7. Sustainable Development: Apply sustainable and environmentally friendly production methods to meet global green consumption trends.

By leveraging opportunities and addressing challenges, Vietnam’s agricultural and seafood sectors have the potential for strong growth and significant contributions to the country’s economic development.

If you’re interested in exploring more about Vietnam Trade Data, you can visit the following links:

1. Past Trade Data of Vietnam
2. Most Updated Statistics of Vietnam
3. Vietnam Data Coverage

These links provide valuable insights into Indonesia’s export and import trends, helping you understand the country’s trade dynamics in depth.

Learn more about Vietnam Trade Coverage

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