Fruit and vegetable exports hit new record
In the first four months, Vietnam`s fruit and vegetables export turnover reached US$1.29 billion, up 26.2% year on year, said the Ministry of Industry & Trade (MoIT).
This is the first time fruit and vegetable's trade value surpassing that of oil, which stood at US$668 million in four months.
Fruit and vegetable exports hit new record in first four months.
|
Notably, Vietnam's agricultural products have also infiltrated Indonesian and Thailand's markets, which are countries having advantages on agricultural production.
Reasons behind a strong growth in agricultural exports, according to experts, are the way Vietnam utilizing its own strength efficiently, as well as applying a clean and safe production.
Additionally, new markets have been opened for Vietnam's fruits and vegetables, such as the US for star apples, mango, and Australia for dragon fruits, mango and lychees.
The US is the third largest fruit importer for Vietnam, with its 2016 fruit export revenue reaching US$84.5 million, an increase of 44.2% over the previous year's figure. In the first 11 months of this year, the market imported Vietnamese fruits worth $92.6 million, a year-on-year rise of 21.3%.
As of December 15, Vietnam's fruit export turnover was recorded at US$3.35 billion, 45 per cent higher than last year's corresponding period.
Global market for vegetables and fruit has high potential for development, as well as the prospect of changes in the value chain of Vietnam's fruits and vegetables, according to Vietnam Fruit & Vegetable Association (VinaFruit).
On the other hand, the domestic market of vegetables and fruits with clear origins is growing at a rapid rate. This is a positive sign, which is a remarkable achievement for fruits and vegetables sector transforming toward professionalism, ensuring the supply source for major markets and export. It is expected that the growth rate of vegetable and fruits in 2018 will be equivalent or more than that of 2017.
In 2018, markets such as the US, Australia, Korea or Japan are expected to contribute to the impressive growth of Vietnam's export. As such, fruits and vegetables are becoming an advantage of Vietnam's export in international markets.
It is estimated that in 2018, Vietnam's export of fruits and vegetables will exceed the highest recorded value of rice export of US$3.67 billion in 2012, and before 2025 will reach US$10 billion per year, which is equivalent to the highest recorded value of crude oil export of US$10.4 billion in 2008.
21:45, 2025/01/15
Hanoi seeks 5% export growth in 2025
The city’s total import-export turnover reached US$60.1 billion in 2024, up 11% year-on-year.
08:41, 2025/01/11
Vietnam-Laos Industrial Park: New direction to strengthen bilateral ties
Numerous Vietnamese projects in various sectors have effectively contributed to Laos' development, creating jobs and improving the livelihoods of tens of thousands of local workers.
22:19, 2025/01/09
Hanoi's foreign trade turnover hits US$60.1bn in 2024
The city will continue to support businesses in exploring new markets, capitalizing on the Free Trade Agreement of which Vietnam is a member.
11:46, 2025/01/09
Vietnam confident of achieving 8% growth rate in 2025
Key drivers of Vietnam’s growth include institutional reforms and decentralized governance.
14:34, 2024/12/26
UK’s accession to CPTPP to benefit Vietnam’s exports in 2025
Vietnam, in particular, will gain further access to a high-quality market, complementing its connections with Japan, Canada, and Australia.
16:41, 2024/12/16
Hanoi seeks greater efficiency in e-commerce tax management
Hanoi's e-commerce tax administration is expected to be significantly tightened in the near future.
- Hanoi's wet markets in decline amid changing consumer behaviors
- Heavy fines for unhygienic street vendors in Hanoi
- Busy high season at Thuong Mao Carpentry Village
- Hanoi plans for new markets
- Hanoi Shopping Festival 2024 promotes agricultural products and handicrafts
- Food safety measures required for Lunar New Year 2025