General

In January 2023, most of Vietnam's major international trade exports showed a sharp decline trend, but vegetables and fruits increased by 3% year-on-year, reaching 300 million US dollars.

This positive growth is attributed to China's reopening of the border in early January 2023 and increasing the import of vegetables and fruits from Vietnam to meet the sales demand of the domestic market. Since the beginning of the year, the main port trade between Vietnam and China has been active, and Vietnam's main export products are fruits and vegetables. From January 1 to February 13, 2023, nearly 220000 tons of 1360 batches of various fruits were exported to China through five ports in Langshan Province, an increase of 140% over the same period in 2022. At the border ports of Guangning, Laojie and Langshan provinces, after the Spring Festival holiday in Guimao, international trade import and export activities are busier.

According to Vietnam Express, after the reopening of the Chinese market, the export opportunities of Vietnamese goods, especially fruits, to China have increased significantly. Due to the large demand in the Chinese market, the price of fruit in Vietnam rose due to the impact of supply and demand. The wholesale price of durian has soared to 150000 - 190000 Vietnamese dong/kg (about 45-57 yuan/kg), about three times the same period last year, setting a record high. The price of other fruits has also doubled compared with a year ago. Deng Fuyuan, Secretary-General of Vietnam Fruit and Vegetable Association, said that with China's comprehensive opening up, it is very convenient for enterprises to export vegetables and fruits, saving a lot of costs. Not only does the export volume of goods increase, the customs clearance speed is faster, and the product quality is more guaranteed, so the efficiency will be higher than that in 2022.

In addition, Vietnamese enterprises also continue to maintain orders with the United States, the European Union and Japan and other harsh markets. The international trade and export activities of fruits approved for the first time are also more active, such as the first export of peak oranges from Heping Province to the UK, and the first entry of fresh longan from Long'an Province into the Japanese market, which will open up new growth opportunities for the fruit export industry in 2023.

In 2022, Vietnam's total exports of vegetables and fruits reached 3.34 billion US dollars, of which banana, pitaya and durian contributed 1.4 billion US dollars. It is estimated that the export value of these three fruits will reach 2 billion US dollars in 2023. From the fourth quarter of 2022, Vietnam's durian can enter the Chinese market through regular trade channels. Only in the fourth quarter of 2022, Vietnam's durian exports grew rapidly, making the total export of durian in 2022 reach 421 million US dollars, up 137% year on year. Vietnam pitaya has a high market share in Asia, Europe and the United States. At the same time, it is also favored by many Asian-American and European consumers. In addition to fresh pitaya, Vietnam also produces dried pitaya, pitaya juice, pitaya wine and other products, and some pitaya products have been exported to the international trade market. The export value of pitaya is expected to reach 1 billion dollars in 2023. Bananas are also a potential export product. In 2022, the total export volume reached 311 million US dollars, up 34.5% year on year. With the Protocol on the Export of Fresh Bananas to China signed by Vietnam and China in November 2022, the export volume of bananas this year is expected to be much higher than that of last year's US $300 million.

After Vietnam's main fruits such as bananas, durian, lemons, grapefruit and longan are exported to China in the form of regular trade, and China, the largest export market in Vietnam, is reopened at the beginning of 2023, it is expected that Vietnam's industrial exports will increase by about 20% compared with 2022, and it is expected to reach the target of US $4 billion, while Vietnam's fruit and vegetable industry will strive to achieve the target of US $5 billion in international trade exports by 2025.