STRONG SCOPE FOR ADDED AGRO-EXPORTS
During a business trip to Brazil in early July to attend the expanded BRICS Summit and conduct bilateral engagements, Prime Minister Pham Minh Chinh met with Brazilian Minister of Agriculture Carlos Favaro to discuss measures to boost agricultural trade between the two countries. PM Chinh proposed that the two countries’ agriculture ministries establish a joint working group to implement high-level commitments effectively.
CHINA EMERGES AS VIETNAM’S TOP SHRIMP IMPORTER
According to the Vietnam Association of Seafood Exporters and Producers, Vietnam’s shrimp exports have shown a strong recovery after a period of stagnation, driven mainly by whiteleg shrimp, which accounts for over 60 per cent of total volume, followed by black tiger shrimp and other varieties. The other shrimp segment witnessed the highest growth at 124 per cent, reflecting increasing demand in niche and premium markets.
TURNING TARIFF CHALLENGES INTO LEVERAGE
Vietnam is affirming its strong export position in the United States, with two-way trade reaching US$80 billion and a trade surplus of US$64.8 billion as of May 2025, ranking fifth globally. On July 2, U.S. President Donald Trump announced on Truth Social that Vietnamese goods are subject to a 20% tariff - significantly lower than Thailand’s and Cambodia’s 36%, Laos’s 40%, and China’s 54% (20% base plus 34% reciprocal), giving Vietnam a distinct competitive advantage.
BANANA EXPORTS POISED TO REACH $4 BILLION IN NEAR FUTURE
Việt Nam's banana industry has the potential to achieve an export value of US$4 billion, according to Phạm Quốc Liêm, Chairman of U&I Agriculture Corporation (Unifarm). He noted that this figure would translate to a minimum production value of US$20,000 per hectare, nearly 10 times higher than the current average.
WOOD AND WOOD PRODUCT EXPORTS CONTINUE TO GROW AMID TARIFF UNCERTAINTY
In the face of global trade turbulence caused by sudden tariff changes in the US and shifts in global supply chains, Việt Nam’s wood and wood product exports have managed to maintain positive momentum. However, the industry is still confronting mounting challenges that demand adaptability and proactive efforts to build domestic resilience.
FRUIT AND VEGETABLE EXPORTS REACH OVER $3.8 BILLION IN SEVEN MONTHS
Việt Nam’s fruit and vegetable exports are expected to reach over US$3.8 billion in the first seven months of 2025, showing a strong recovery after a sharp decline earlier this year, according to preliminary data from the Ministry of Agriculture and Environment. July alone is expected to see an estimated export revenue of around $731.4 million, up 33 per cent year-on-year, although slightly down from June.
CHINA BECOMES VIETNAM’S TOP SEAFOOD BUYER IN H1
China overtook the U.S. as Vietnam’s largest seafood importer in the first half of this year, with a total value of US$1.1 billion, up over 45% year-on-year. According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the U.S. imported around US$905 million worth of seafood from Vietnam in January-June, up nearly 18% year-on-year.
VIETNAM LOOKS TO 8.3-8.5% ECONOMIC GROWTH IN 2025
The Government has set an ambitious target for Vietnam to achieve a growth rate of 8.3-8.5% this year, aiming to build strong momentum and lay a solid foundation for reaching double-digit growth between 2026 and 2030. Today morning (July 16), Prime Minister Pham Minh Chinh chaired an online Government conference with local authorities to discuss economic growth scenarios for 2025 and the key tasks and solutions needed to achieve the growth target.
