Vietnam’s Fruit and Vegetable Trade Surplus Nears $4 Billion in the First Nine Months of 2024

According to data from the Vietnam Fruit and Vegetable Association, by September 20, 2024, Vietnam’s total fruit and vegetable export value is projected to reach $9.2038 billion, marking a 9.1% increase compared to the previous month and a 37.9% year-on-year rise. Since the beginning of 2024, Vietnam’s fruit and vegetable exports have surpassed $5.6 billion, an impressive 33.9% growth from last year, nearly equaling the total export value for the entire year of 2023.

On the import side, Vietnam’s fruit and vegetable imports have exceeded $1.6 billion since the start of the year, reflecting a 12.9% year-on-year increase. As a result, Vietnam has achieved a fruit and vegetable trade surplus of approximately $4 billion during the first nine months of this year.

Projections indicate that Vietnam’s fruit and vegetable exports will maintain a robust upward trend through the end of 2024. This is particularly driven by the formal signing of two key protocols between Vietnam’s Ministry of Agriculture and Rural Development and the General Administration of Customs of China. The agreements, which cover the phytosanitary and food safety requirements for Vietnam’s frozen durians and fresh coconuts exported to China, are expected to provide a significant boost to the country’s fruit and vegetable exports.

With rising global demand for fruits and vegetables in the fourth quarter, especially for durians and coconuts, exports are forecast to see a substantial increase. Vietnam’s durian export revenue is anticipated to reach $3.2 billion by the end of 2024, a 45% increase compared to 2023. Meanwhile, fresh coconut exports are expected to surge by 50%, surpassing $200 million. Overall, Vietnam’s fruit and vegetable export value for 2024 is projected to exceed $6.6 billion.

Key Takeaways:

Strong Export Growth: As of September 2024, Vietnam’s fruit and vegetable export value has exceeded $5.6 billion, up 33.9% year-on-year, nearly matching the entire export value of 2023, highlighting a notable surge in export momentum.

Significant Trade Surplus: In the first nine months of 2024, Vietnam recorded a fruit and vegetable trade surplus of nearly $4 billion, driven by strong export growth and a slowdown in import growth, showcasing Vietnam’s global competitiveness in this sector.

Future Growth Driven by Policies and Market Demand: With the signing of key phytosanitary agreements with China and increasing global demand, durian and coconut exports are expected to drive further growth, pushing Vietnam’s total fruit and vegetable export value beyond $6.6 billion for the year 2024.

For more insights into Vietnam’s market trends, stay tuned to our platform, where we provide expert guidance and support to help you succeed in this dynamic market.

Publications

Latest News

Our Consultants

Want the Latest Sent to Your Inbox?

Subscribing grants you this, plus free access to our articles and magazines.

Our Vietnam Company:
Enterprise Service Supervision Hotline:
WhatsApp
ZALO

Copyright: © 2024 Vietnam Counseling. All Rights Reserved.

Login Or Register