Business News

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.

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.

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.

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.

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 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.

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.

Việt Nam is aiming to export cashews worth US$4.5 billion in 2025, up 2.7 per cent year-on-year, according to the Ministry of Agriculture and Environment. To hit this target, the sector must generate around $2.2 billion in the second half. Figures from the first six months show cashew exports reached 346,800 tonnes, earning $2.36 billion, a drop of 2.7 per cent in volume but a surge of 20.4 per cent in value annually.