Fruit and vegetable exports expected to hit US$4 billion

Vietnam's fruit and vegetable exports are on course to exceed US$4 billion in 2018, with a strong annual growth rate of more than 14%.

According to the Import and Export Department under the Ministry of Industry and Trade (MoIT), Vietnam reported record export revenues from fruit and vegetables, bringing in more than US$2.7 billion over the first eight months of 2018.

China continues to be the largest importer of Vietnamese fruit and vegetables with an export revenue of approximately US$1.99 billion in the eight-month period, an increase of 11.6% over the same period in 2017. It is followed by the US, Thailand and Australia.

The MoIT said that one of the reasons for the strong export growth of fruit and vegetables is Vietnam's signing of a number of free trade agreements, helping to create favorable conditions for the domestic fruit and vegetable sector to approach new markets.

The MoIT also forecast that the escalation of the US-China trade war will have negative impacts on the exports of Vietnamese agricultural products in the next months.

Thus, domestic exporters should seize opportunities while increasing their participation in production chain models and enhancing the quality of fruit and vegetables for export, the ministry said.