The year of 2017 ended with significant improvement in Vietnam’s exports, in which trade value reached 212 billion USD for the first time, and 10 billion USD higher than expactation. Meanwhile, exports of agro – forestry – fisheries contributed 36 billion USD for exports, among them fruits and vegetables with 3.5 billion USD in export value, are expected to continue its growing trend in 2018.
Fruits and vegetable of Vietnam has a trade surplus of nearly 2 billion USD in 2017.
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In addition to a record high in export value, 2017 also marked the first time fruits and vegetable of Vietnam has a trade surplus of nearly 2 billion USD. As such, the prospect for export value to be in range of the threshold of 5 billion USD or even 10 billion USD will be within the reach, as major markets such as the US or Australia start importing star apples, dragon fruits, longan or litchi from Vietnam.
The US is the third largest fruit importer for Vietnam, with its 2016 fruit export revenue reaching US$84.5 million, an increase of 44.2 per cent over the previous year’s figure. In the first 11 months of this year, the market imported Vietnamese fruits worth $92.6 million, a year-on-year rise of 21.3 per cent. As of December 15, Vietnam’s fruit export turnover was recorded at US$3.35 billion, 45 per cent higher than last year’s corresponding period.
According to Vietnam Fruit & Vegetable Association (VinaFruit), global market for vegetables and fruit has high potential for development, as well as the prospect of changes in the value chain of Vietnam’s fruits and vegetables. On the other hand, the domestic market of vegetables and fruits with clear origins is growing at a rapid rate. This is a positive sign, which is a remarkable achievement for fruits and vegetables sector transforming toward professionalism, ensuring the supply source for major markets and export. It is expected that the growth rate of vegetable and fruits in 2018 will be equivalent or more than that of 2017.
In 2018, markets such as the US, Australia, Korea or Japan are expected to contribute to the impressive growth of Vietnam’s export. As such, fruits and vegetables are becoming an advantage of Vietnam’s export in international markets. It is estimated that in 2018, Vietnam’s export of fruits and vegetables will exceed the highest recorded value of rice export of 3.67 billion USD in 2012, and before 2025 will reach 10 billion USD per year, which is equivalent to the highest recorded value of crude oil export of 10.4 billion USD in 2008.
