A major challenge for Vietnam's leather and footwear industry is its heavy reliance on imported raw materials like leather, synthetic materials, fabrics and accessories, despite ongoing efforts to boost local sourcing.
The electronics industry has made a substantial impact on the country's industrial production and export values. Over the past decade, electronics exports have represented more than 30% of Vietnam's total export value, securing the top position among the manufacturing and processing industries.
In July 2024, Vietnam's tuna exports continued to maintain growth momentum over the same period, increasing by 14% to nearly 87 million USD. However, the export growth rate is slowing down a lot compared to previous months. Cumulatively, in the first 7 months of the year, tuna export turnover reached 558 million USD, an increase of 22%.
South Korea remains the largest consumer of Vietnam's cephalopod, accounting for over 40% of the total export value. In the first six months of this year, cephalopod exports to this market reached 114 million USD, a 13% increase compared to the same period last year. In the second quarter of 2024, cephalopod exports to South Korea reached 58 million USD, up 13% year-on-year.
Viet Nam and the U.S. agreed to conclude technical discussions and proceed with legal procedures to allow the import of Vietnamese passion fruit.
Viet Nam’s exports to India saw a year-on-year increase of 15.2 percent over the first seven months of this year, reaching US$5.37 billion, reported the Ministry of Industry and Trade.
According to Vietnam Customs, in July 2024, Vietnam's pangasius export turnover are more than US$184 million, up 29% compared to July 2023. Cumulative exports in the first 7 months reached over US$1.1 billion, up 9%.
Vietnamese businesses are more likely to include a digital strategy as part of their organisational strategy when compared with businesses in other markets, CPA Australia’s most recent survey shows.
Leading apparel retailers such as H&M, Zara and Uniqlo have started mandating their suppliers in Vietnam to use organic cotton, reduce water/energy use and implement waste recycling.
In the past three consecutive months, Vietnam's tuna exports to South Korea have grown at a three-digit rate. Notably, tuna exports to this market in June reached a peak. The export value to this market reached nearly 6 million USD, nearly 6 times higher than the same period in 2023.
Viet Nam exported more than 164 tons of pepper of all kinds to pocket US$764 million in the first seven months this year, reported the Viet Nam Pepper and Spice Association (VPSA)
Vietnamese
October 2024
Hanoi
