Fruit and vegetable exports are expected to exceed 7 billion USD; Export of wood and forest products reached nearly 8 billion USD... is the prominent information in the export news week from July 1-7, 2024.

Fruit and vegetable exports are expected to reach 7 - 7.5 billion USD

According to the Ministry of Agriculture and Rural Development, fruit and vegetable exports in June 2024 are estimated to reach nearly 780 million USD. In the first 6 months of 2024, fruits and vegetables hold the leading position in exports among agricultural products, with a turnover of nearly 3.5 billion USD, an increase of more than 28% over the same period last year.

Fruit and vegetable exports are expected to reach 7 - 7.5 billion USD

Among them, durian, dragon fruit, banana... are all fruit products that contribute mainly to export growth in the first half of 2024. In addition, processed products and key markets also recorded an increase of 10-50% over the same period last year.

The main market for Vietnamese fruits and vegetables is still China and other potential markets such as Korea, the United States, Japan, Thailand... Among them, China is still the largest export market for Vietnamese fruits and vegetables, estimated at about 2.2 billion USD (up 33% over the same period in 2023).

The second market is South Korea, estimated at 180 million USD, up 57.9% over the same period in 2023. Next is the United States, with an export value of nearly 150 million USD, up 32.4% over the same period last year.

Vietnam has officially exported more than a dozen types of fruits to the Chinese market, including: watermelon, mangosteen, durian, fresh bananas, sweet potatoes, dragon fruit, rambutan, mango, lychee, longan, and jackfruit. The Vietnam Fruit and Vegetable Association forecasts that fruit and vegetable export turnover this year could reach 7-7.5 billion USD; If there are additional frozen durian or fresh coconut products participating according to Vietnam's current negotiation agreements with China.

With an estimated export turnover of about 1 billion USD in the first 6 months of 2024, durian is the leading fruit for export in our country's fruit and vegetable industry. China still accounts for 92% of our country's total durian export turnover.

Seafood exports reached more than 4.4 billion USD

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), in June 2024, the country's seafood exports are estimated to reach 875 million USD, up 14% over the same period last year. This is also the month with the highest export turnover from the beginning of the year until now.

Seafood exports reached more than 4.4 billion USD

Specifically, exports of most key products had high growth in June such as: Pangasius increased by 22%, tuna increased by 40%, and crab increased by 59%. Shrimp products alone increased slightly by 7%. Squid and octopus are the only products that decreased slightly compared to the same period last year.

In addition, accumulated seafood exports in the first half of this year brought in over 4.4 billion USD, up nearly 7% over the same period in 2023. According to Vasep, shrimp exports brought in more than 1.6 billion USD; 7% higher than the same period last year. Of which, white leg shrimp reached nearly 1.2 billion USD, a slight increase of 3%; Black tiger shrimp reached over 200 million USD, down 10%. Lobster exports alone increased sharply, 57 times over the same period and reached more than 130 million USD.

“Panga fish exports in the first half of this year reached 922 million USD, up nearly 6% over the same period. At the same time, tuna exports in the first half of this year increased by nearly 25%, reaching 477 million USD, mainly thanks to the sharp increase in the canned and bagged fish segment.

Vietnamese goods still have a lot of room to go to the United States

Manufactured goods from Vietnam exported to the United States have increased sharply since the beginning of the year, reaching the highest increase among ASEAN members, twice as high as Thailand and Singapore.

Through the first half of 2024, there have been approximately 55 billion USD of successfully exported goods to the United States, with the highest growth; increased nearly 26% over the same period, leading and far exceeding the increase in goods exports to other markets such as the EU, ASEAN, Korea...

Specifically, Vietnam had 8 product groups with an export value of over 1 billion USD to the United States in the first 6 months of the year, of which computers and components exceeded 10 billion USD.

In the list of goods imported by the United States from Vietnam in the past 6 months, in addition to computers and phones, there are also machinery, equipment, spare parts, textiles, footwear, wood and wood products.

In 2023, the export turnover of goods to the United States will decrease by about 13 billion USD compared to 2022; Due to the impact of the economic downturn and global trade, there are still 97 billion USD of Vietnamese goods exported to this market. In particular, the group of electronic products exported to the United States alone reached 25 billion USD in the past year. In particular, the United States is also the only export market exceeding 100 billion USD/year.

Exports at the beginning of the year regained growth momentum

According to the assessment of the Import-Export Department (Ministry of Industry and Trade), import-export activities in the first 6 months of 2024 continue to record positive results. Total import-export turnover of goods is estimated at 369.6 billion USD, up 16% over the same period last year, of which exports are estimated at 189.5 billion USD, up 14.2%; Imports are estimated at 180.2 billion USD, up 18.1%.

Import-export activities in the first 6 months of 2024 continue to record positive results

Notably, exports grew strongly and evenly in all three product groups. In the export group of agricultural and aquatic products, turnover grew at a high level, estimated at 19.9%; Of which, seafood is estimated at 4.4 billion USD, up 4.9%; fruits and vegetables are estimated at 3.4 billion USD, up 28.2%; Coffee is estimated at 3.2 billion USD, up 34.5%; Although rice is only estimated to increase by 10.4% in volume, turnover is estimated to increase by 32%.

Key export industrial products continue to recover well. Specifically, wood and wood products are estimated to reach 7.4 billion USD, an increase of 22.2%; textiles and garments are estimated at 16.3 billion USD, up 3.1%; footwear is estimated at 10.8 billion USD, up 10%; iron and steel of all kinds is estimated at 4.7 billion USD, up 9.8%; Computers, electronic products and components are estimated to reach 33 billion USD, an increase of 28.6%; phones and components of all kinds are estimated at 27.2 billion USD, an increase of 11.3%. The mineral fuel group has an estimated export turnover of 2.14 billion USD, up 6% over the same period in 2023.

According to the Ministry of Industry and Trade, export turnover to most markets and major trading partners has recovered well and achieved high growth. In particular, the United States continues to be our country's largest export market with a turnover of 44.4 billion USD, an increase of 22.3% over the same period last year; Next is the Chinese market reaching 22.6 billion USD, an increase of 9.9%; EU market reached 20.3 billion USD, up 14.1%; Korea reached 10.2 billion USD, up 10.9%; Japan reached 9.4 billion USD, up 3.2%.

According to: Ngoc Ngan - Cong Thuong Newspaper