Vietnam spent 3.3 billion USD importing agricultural products from the US during the first 10 months of 2021. Also during this period, Vietnam exported 10.8 billion USD in agricultural value to the US.

According to the latest data from the General Department of Vietnam Customs, the US is the number one supplier of agricultural products in Vietnam with a turnover of nearly 3.3 billion USD, accounting for 9.2% of the market share. The second place belongs to Cambodia with a value of 3.15 billion USD, accounting for 8.9% market share.

This rank has changed at the end of the third quarter of 2021, when Cambodia was the number one source of agricultural products for Vietnam with a 9.4% market share, while the US ranked second with a 9.3% market share.

The agricultural product that Vietnam imports the most from the US is cotton (raw material for spinning in the garment industry) with an import value of $1.2 billion USD, accounting for 36.6% of Vietnam’s import turnover from the US.

In addition, other agricultural, forestry, and fishery products provided by the US to Vietnam in large amounts as of the first 6 months of 2021 include:

– Animal feed and ingredients – nearly 414 million USD

– Soybeans – nearly 349 million USD

– Vegetables – 155 million USD

– Wood – $162 million

– Milk and dairy products – $119 million

– Wheat – 45 million USD

On the opposite side of trade, the US is also the largest importer of Vietnam’s agricultural products. Vietnam’s export value to the US in the first 10 months of the year reached more than 10.8 billion USD, accounting for 27.9% market share. In which, wood and wood products accounted for 68.4% of Vietnam’s export turnover to the US. Other products also exported to the US include cashew nuts, pepper, shrimp, pangasius, and vegetables.

 

Regarding all Vietnam imports, according to the data recently provided by the Ministry of Agriculture and Rural Development on October 2, in the first 10 months of 2021 the import turnover of agricultural, forestry, and fishery products reached 35.6 billion USD, up an impressive 39.1% over the same period in 2020.

The overall import value by commodity groups are respectively:

– Main agricultural products – 22.5 billion USD

– Livestock products – 2.9 billion USD

– Aquatic products – 1.6 billion USD

– Main forest products – nearly 2.6 billion USD

– Production input – nearly 6 billion USD

In the context of the growing the agricultural import and export market between Vietnam and the US, Noble Network is proud to be a bridge between Vietnamese and American businesses wishing to import and export agricultural products. One of our important upcoming projects is “Establishing a nationwide beef industry training program and an associated beef products supply chain in Vietnam based on US technology and best practices”.

Source: Nguoi Lao Dong newspaper (www.nld.com.vn)