General

Vietnam+reported on November 19 that the aquaculture industry is striving to achieve the goal of reaching 10 billion US dollars in exports by 2022. According to customs data, by the end of October this year, the export volume of aquatic products had reached 9.5 billion US dollars, up 34% year on year. The export volume of aquatic products has exceeded US $1 billion for consecutive months. Although the order volume has declined recently, the average monthly export volume is still about 900 million dollars. It is estimated that the total export volume of the aquatic product industry in 2022 is expected to reach US $112-11.4 billion, a new 20 year high.

The rice industry strives to achieve the goals of 6.3 million tons of exports and 3.3 billion dollars of exports respectively. According to customs data, in the first 10 months of this year, Vietnam has exported nearly 6.1 million tons of rice, earning 2.95 billion US dollars in foreign exchange, up 17.2% and 7.4% year on year respectively.

According to customs data, in the first 10 months of this year, coffee exports reached 3.27 billion US dollars, up 33.4% year on year; The export volume increased by 10.6% year on year. It is estimated that the total export of coffee in 2022 will reach US $3.8 billion.

The footwear and handbag industry is also about to achieve the annual export target of 25 billion US dollars. According to customs data, the export value of footwear and handbags in the first 10 months of this year reached 23.345 billion US dollars. According to customs data, the export of handbags reached USD 3378 million, up 39.4% year on year; Footwear exports reached US $20.057 billion, up 40.9% year on year.

With an average monthly export volume of 2.2 billion dollars, the footwear and handbag industry's export volume in the remaining months of 2022 can exceed 4 billion dollars. The annual export volume is expected to reach 27 billion US dollars.

The Ministry of Industry and Trade and the enterprises in the industry believe that although the export volume has increased sharply year on year, the growth momentum of new orders has slowed down in recent months. In particular, orders continued to decrease due to the impact of high inflation in major export markets such as the United States, the European Union, Japan and South Korea, and the inventory of goods in the retail system was still at a high level.

The Ministry of Industry and Trade of Vietnam is guiding enterprises to turn to the Asian market, implementing market diversification and not relying on the goal of traditional markets.