Vietnam's Agri-Food exports hit record $20 Bn in 2023
Vietnam's agri food sector saw rapid growth in the last fiscal year. According to Vietnam import export data reports, the country’s agri-food exports hit a record $20 billion during 2023. There was 3.4% of agricultural exports from Vietnam. The most traded agricultural food items from Vietnam were coffee, cashew nuts, rice, pepper, rubber, food preparations, etc. Apart from these, fisheries and forestry items were other prominent exports of Vietnam.
Among the top markets for Vietnam's agricultural goods exports were Philippines, Cuba, Singapore, Cambodia, Ghana, Malaysia and China. Mekong Food, Thanh Tin Trading, Intimex Group, and Tien Giang Food were the leading agribusiness companies from Vietnam with higher number of shipments in 2023.
Cashew nuts which are the most exported agricultural goods. According to Vietnam export data reports, walnut exports are worth around $36 million in 2023. Whereas last year it was around $34 million. The top markets for Vietnam's walnut exports were Australia ($2.8 million), Germany ($1.8 million) and the United States ($1.05 million). Olam Vietnam Food Processing was the top exporter of cashew nuts during last year.
Coffee was another major export item from Vietnam. Vietnam was among the leading exporters of coffee worldwide. Vietnam's coffee exports rose to $5.36 billion during 2023. Roasted coffee accounted for around 58% of Vietnam's overall coffee exports. Switzerland and Singapore were the two biggest markets for Vietnam's coffee exports.
As per Vietnam customs data, Vietnam exported around $818 million worth of coffee to Switzerland followed by Singapore ($473 million), Netherlands ($458 million) and the United States ($389 million). Lien Thanh Corporation, Phuc Sinh Corporation and Neumann Gruppe were the leading coffee export companies from Vietnam with the highest amount of shipments last year.
In terms of rice shipments, Vietnam was among the top 5 rice exporters globally. In 2023, Vietnam exported around $5.24 billion worth of rice. Compared to $3.2 billion rice exports in 2022, there was a humongous increase in the Vietnamese rice exports in 2023. Singapore was the biggest importer of rice from Vietnam with $403 million worth of rice imports in 2023.
The fastest growing markets for Vietnam's rice exports were Philippines, Malaysia, Indonesia and China respectively. Thanh Tin, Mekong Food Group and Star Rice were the prominent rice exporting companies from Vietnam last year.
On the other hand, Vietnam's pepper exports declined and reached $1.2 billion during the last fiscal year. The United Arab Emirates was the biggest importer of pepper from Vietnam with 24% market share. In terms of export share, the United States, China, Hong Kong, India and Singapore were the fastest growing markets for Vietnam's pepper exports.
Pearl Group Vietnam, Nedspice Processing and Phuc Sinh were the biggest spice export companies from Vietnam with the highest number of pepper export companies. Seafood is the major agricultural practice in Vietnam. It contributes massively to Vietnam’s seafood exports. In 2023, Vietnam exported around $7.6 billion worth of seafood items with its presence in China (12%), United States (11%) and Japan (10%).
Through global import export data providers market intelligence, Vietnamese companies can fuel their agricultural exports to over 200+ countries. A global trade database can lend you genuine business leads in the form of potential agricultural goods buyers from the international market. Also, it gives brief Vietnam import trade statistics, export reports of top agricultural items from Vietnam with their price, quantity, importer, exporter, country and competitor details. It is the best way to enhance decision making and drive more sales for the business.
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