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Export News
29-03-2024
Positive signals for the overseas growth of Vietnamese fruits and vegetables have been observed since the beginning of the year, with the export value surpassing $1 billion in the first quarter.
The breakthrough in export value exceeding $1 billion in the first quarter of this year indicates optimism among experts regarding the future growth of Vietnamese fruits and vegetables exports.
According to statistics from the General Department of Customs of Vietnam, the export value of Vietnamese fruits and vegetables in February was $325.8 million, a decrease of 33.6% compared to January but an increase of 1.4% compared to the same period in 2023. This figure reached $433 million in March, representing a 1.4% year-on-year increase. With a nearly 4% year-on-year increase, this has driven the total export revenue of these products in the first three months of 2024 to $1.25 billion, marking a 27% increase compared to the same period last year. This is the first time that the export value of fruits and vegetables in the first quarter has exceeded $1 billion, indicating strong growth prospects for the industry in the future.
Vietnam's main export markets for fruits and vegetables include China, South Korea, the United States, Thailand, and Japan. Particularly, by the end of February, exports to Thailand surged by 125.9%, reaching $28.6 million. Meanwhile, according to the Ministry of Industry and Trade's Import and Export Department, exports of Vietnamese fruits and vegetables to China in the first two months of this year reached $501.4 million, a 57.2% increase compared to the same period in 2023. Many other markets also saw strong growth, including South Korea (52.4%) and Australia (36.2%).
The Vietnam Fruit and Vegetable Association (VinaFruit) believes that the sharp increase in fruit and vegetable exports in the first quarter of this year benefited from the increase in off-season durian production. In particular, the sharp increase in Thailand's consumption of Vietnamese durians has made it the fourth largest importer of Vietnamese fruits and vegetables.
Experts predict that although the crisis in the Red Sea has greatly affected Vietnam's fruit and vegetable exports to Europe and the United States, it may drive exports to China and regional countries, especially for durians, coconuts, dragon fruits, custard apples, bananas, and mangoes. They believe that granting more codes for durian planting areas and packaging facilities this year will help promote the export of this product. Meanwhile, coconuts are also another promising product contributing to the growth of Vietnam's fruit and vegetable export revenue. This year, the export value of Vietnamese fruits and vegetables is expected to range from $6.2 to $6.5 billion.
If you wish to delve deeper into specific segments or regions within this dynamic market, please inquire with Tendata. We are pleased to assist you in understanding the trade situation of Vietnamese fruits through comprehensive reports using Vietnam's fruit trade data, shedding light on the areas of your interest. (>> Contact Tendata Now)
When you want to know which 6-digit or 8-digit subdivision HSN codes are available for products, you can search using HS codes on the Tendata platform, where we provide statistical data on trade volume, trade frequency, and other details for more finely segmented categories of Vietnamese fruits. Below is an example displayed by Tendata for your reference. (For More Details, Please Contact Tendata)
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