Exports to US increase sharply
A pangasius export processing plant in Cần Thơ. Photo baocantho.com.vn
Vietnamese exports to the US are increasing sharply as that country seeks to persify supply to meet consumer demand and revive its economy after the Covid-19 pandemic.
In the first quarter of this year exports to the US grew by 39 per cent year-on-year to US$22.24 billion, well ahead of the second largest export market, China (US$12.56 billion).
In recent years the US has become Việt Nam’s biggest market. Last year, at $76.4 billion, it accounted for 27 per cent of all exports.
Trần Văn Quy, general director of Trung Quy Textile and Garment Co., said orders from US firms in the last two months had increased by 60 per cent year-on-year.
The pandemic has gradually been controlled in the US, enabling it to reopen borders and resume trade.
Trương Đình Hoè, general secretary of the Việt Nam Association of Seafood Exporters and Producers (VASEP), said the US market would continue to be a bright spot for many Vietnamese seafood products such as shrimp, pangasius and others.
Vietnamese exporters would have more opportunities to export to the US since India, the largest supplier of shrimp to it, faces production difficulties due to the pandemic, he said.
To further increase exports, the sector must find ways to reduce costs and become competitive, he added.
Though there are good signs in the market, exports will be affected by the high transport and input costs, according to the association.
Rice export to the US also increased sharply this year.
In the first quarter 5,000 tonnes worth $3.8 million were shipped, up 18.5 per cent and 40.5 per cent year-on-year.
This month the US Department of Agriculture released its global rice outlook report showing world food demand and reserves will remain at high levels in 2021.
Global rice exports are expected to be around 44.79 million tons, up 1 per cent from 2020. Việt Nam is set to remain the world’s second largest exporter at 6.4 million tons, an increase of 233,000 tons.
Adam Sitkoff, executive director of the American Chamber of Commerce in Hà Nội, hoped both Governments would exert more effort to enforce the bilateral free trade agreement to improve investment flows and trade, support sustainable supply chains and better business conditions to ensure sustainable socio-economic development.
The Government’s effective response to the pandemic would continue to boost Vietnam’s image as an attractive market, he added. – VNS
Related News

Exports witness a rise of US$1 billion in the first 15 days of 2025
07:49 | 12/02/2025 Import-Export

US or China: Who will lead in Vietnamese Tra fish imports?
10:11 | 11/02/2025 Import-Export
Latest News

Malaysia initiates anti-dumping investigation on galvanised sheets from Việt Nam
09:45 | 13/02/2025 Import-Export

Coffee prices hit record highs, heightening speculation risks
09:29 | 13/02/2025 Import-Export

Central industrial hub sets ambitious growth target in 2025
14:26 | 11/02/2025 Import-Export

Demand for dragon fruit in Tiền Giang Province continues to increase
14:23 | 11/02/2025 Import-Export
More News

Data centres are attracting investors in Asia
14:22 | 11/02/2025 Import-Export

Sustainable fashion presents promising niche market for textile manufacturers
08:22 | 10/02/2025 Import-Export

VN's car industry to diversify supply chain
15:33 | 07/02/2025 Import-Export

Exports of agro-forestry-aquatic products down nearly 5 per cent in January
15:32 | 07/02/2025 Import-Export

Thailand reviews anti-dumping tax on Vietnamese steel
14:15 | 06/02/2025 Import-Export

In the first 15 days of 2025, total import-export turnover reached more than US$34 billion
09:58 | 06/02/2025 Import-Export

Pangasius fetch record price in early 2025
14:06 | 05/02/2025 Import-Export

Việt Nam and India trade reached $15 billion in 2024
14:05 | 05/02/2025 Import-Export

Việt Nam's port firms thrive in 2024
14:04 | 05/02/2025 Import-Export
Your care

Malaysia initiates anti-dumping investigation on galvanised sheets from Việt Nam
09:45 | 13/02/2025 Import-Export

Coffee prices hit record highs, heightening speculation risks
09:29 | 13/02/2025 Import-Export

Exports witness a rise of US$1 billion in the first 15 days of 2025
07:49 | 12/02/2025 Import-Export

Central industrial hub sets ambitious growth target in 2025
14:26 | 11/02/2025 Import-Export

Demand for dragon fruit in Tiền Giang Province continues to increase
14:23 | 11/02/2025 Import-Export