[KNOWLEDGE] - These Vietnam’s export products are popular in the US market

The US is always rated as the number 1 export market of Vietnamese enterprises. In which, agricultural products, textiles and seafood are the main and popular goods in this fastidious market.

1. Agricultural products

Vietnam is inherently an agricultural country, therefore, the output of agricultural products is always high to serve both domestic and foreign markets. The acceptance of agricultural products by the US market creates more stringent product quality standards. But not so that our country falters in exporting to the US. In the first four months of 2022, Vietnam’s agricultural, forestry and fishery exports to the US reached nearly $4.9 billion. The US market also ranks first in the export market share of Vietnamese agricultural products - with 27.3%, according to data from the Ministry of Agriculture and Rural Development.

According to Mr. Benjamin Petlock, senior US agricultural attaché in Ho Chi Minh City, the agricultural cooperation between Vietnam and the US has made great progress since the two countries established diplomatic relations in 1995. Vietnam From the 95th place in the US export partners, it has now become the 8th export market.

2. Textiles

According to the report of the General Department of Customs, in the first 4 months of 2022, the main industries contributing the largest export turnover of Vietnam are textiles, garments and footwear.

The textile and garment industry has been focused on by Vietnam in recent years, and garment and footwear products from Vietnam have been meticulously improved and refined. Because of that, the US market pushed this industry to increase strongly and set a new peak after 10 years since 2012.

The United States is Vietnam’s largest textile and apparel consumption market with 6 billion USD, up 27%, ranked second is the EU with 1.3 billion USD, up 35%. In addition, exports to South Korea reached 1 billion USD, up 8.7%. The Southeast Asian market increased by 32% to 662 million USD, Canada increased by 57% to 393 million USD.

3. Seafood

Finally, seafood is an indispensable field in the export of Vietnamese enterprises. Many seafood products exported to the United States have high growth, forecast to reach 2.4-2.5 billion USD in 2022.

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the US market currently holds the No. 1 position, accounting for 23% of Vietnam’s seafood exports. The United States is also the number one market for Vietnamese shrimp, accounting for 21% (particularly vannamei shrimp exported to the United States accounted for 25%), with tuna exported to the United States accounting for an overwhelming proportion of 54%. For pangasius, the US is the second market after China, accounting for 25.6%. Only in the first 5 months of 2022, Vietnam’s seafood exports to the US reached nearly $1.1 billion, up 65% over the same period last year. It is forecasted that seafood exports to the United States in 2022 will reach 2.4-2.5 billion USD, up 25% compared to 2021.

Thus, the export situation in the first half of 2022 to the US market has shown clear signs of recovery when the main commodity groups maintain high momentum, the export scale is also increased after the number of products billion USD exports increase the contribution rate to the economy.

In order to conquer this difficult market, Vietnamese enterprises will face many difficulties from procedures to completing the required certifications when exporting goods to the US. Therefore, businesses need an export consultant to be able to receive support from the smallest steps.

Indochina Holdings is an experienced company in the field of trade promotion and export consulting. At the end of 2021, after consulting exports as well as giving the best orientations and strategies, Indochina Holdings and Ngon Nhat Rice Co., Ltd. will support to export rice to the US.

Cao Duy