According to the General Department of Vietnam Customs, exports of the products reached US$176.9 million during the first half of this month, up 13.4% against the corresponding period of last year, bringing the total value of exports for three-and-a-half months to US$1.15 billion, a year-on-year rise of 33.8%. At that pace, the export value is expected to exceed US$1.3 billion by the end of this month.
In the first quarter of this year, China imported US$727 million worth of fruit and vegetables from Vietnam (up 42%), followed by the US with nearly US$29 million (up 19%), Japan with US$28.5 million (up 26.8%), the Republic of Korea with US$24 million (up 8.7%), and Thailand with US$18.1 million (up 23.8%).
The UN Food and Agriculture Organization (FAO) forecast that China’s imports and consumption of fruit and vegetables will grow rapidly over the 2017-2020 period, accounting for 15.1% of global consumption. China’s burgeoning demand offers an excellent opportunity for Vietnam to boost its trade with the market.
The Vietnamese fruit and vegetable sector has recorded strong growth in its exports over recent years, hitting a record high of US$3.514 billion last year, up 43% over the previous year. Last year, China was the leading importer of Vietnam’s fruit and vegetables, making up 75% of Vietnam’s total export value, trailed by Japan, the US, the RoK, the Netherlands, Malaysia, Taiwan, Thailand, the UAE, and Russia.