According to statistics from the General Department of Customs, Vietnam’s fruit and vegetable exports in July 2023 reached $404.5 million, a decrease of 38.9% compared to June 2023, but an increase of 63.6% compared to July 2022.
Cumulatively for the first 7 months of 2023, the value of fruit and vegetable exports reached $3.1 billion, a 60.5% increase compared to the same period in 2022.
Fruit and vegetable exports to the main markets in the first 7 months of 2023 all showed good growth, although some markets experienced declines, such as the United States, the Taiwan market (China), Thailand, and Australia. Leading in terms of export value is the Chinese market at $2 billion, a 128.5% increase compared to the same period in 2022.
Fruit and vegetable exports to the US market reached $140.5 million, a decrease of 11.2% compared to the same period in 2022. Following that is the South Korean market at $125.1 million, an increase of 13%; to Japan at $105.6 million, a 5.5% increase.
The demand for imported fruits and vegetables in these markets is significant, but Vietnam only accounts for a small portion of the total demand. Therefore, there is still plenty of room for businesses to exploit.
The US market has an average annual demand for imported fruits and vegetables (HS codes 06, 07, 08, 20 excluding codes 080131 and 080132) of about $46 billion in the period from 2018 to 2022, but imports from Vietnam only constitute less than 0.6% of the total value of fruit and vegetable imports to the US.
The South Korean market has an average annual demand for imported fruits and vegetables of $3.9 billion in the period from 2018 to 2022. However, imports from Vietnam only account for 4.3% of the total import value.
In the Japanese market, the average annual demand for imported fruits and vegetables is $10 billion, but imports from Vietnam only account for 0.6% of the total import value.
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Source: Vietnam Insider