Growth rate of fruit and vegetable exports slow down

The Import-Export Department under the Ministry of Industry and Trade cited statistics from the General Department of Customs as saying that Vietnamese fruit and vegetable exports in July reached US$404.5 million, a drop of 38.9% compared to June, but an increase of 63.6% compared to July, 2022.

Fruit and vegetables exported to major markets throughout the reviewed period all grew well, except for the United States, Taiwanese, Thai, and Australian markets.

The Chinese market took the top spot in export value with US$2 billion, up 128.5% over the same period from 2022.

The high growth of fruit and vegetable exports to the Chinese market contributed to positive growth occurring in the fruit and vegetable industry this year as the export value to the highly lucrative market accounts for 64.7% of the nation’s total export value of this product.

Import demand for fruit and vegetables in these markets remains large, although the country only exports a small part of the total demand, meaning there remains plenty of room for local businesses to exploit.

Specifically, the import price from the nation only accounts for less than 0.6% of the total import value of fruit and vegetables of the US.

Similarly, in the Korean market the average import demand for fruit and vegetables hit US$3.9 billion per year throughout the 2018 to 2022 period, but the value of imports from the Vietnamese market only accounted for 4.3% of the total import value.

In the Japanese market, there remains an average import demand for fruit and vegetables at US$10 billion per year, although imports from Vietnam only made up for 0.6% of its total import value.