Given complex developments in the East Sea, Vietnam’s key agricultural exports like rice, rubber and cassava continued to face a plenty of challenges. However, contrary to popular worries, the country’s export performances in the first six months showed signs of improvement and pinned hopes on bright economic picture in 2014.
Coffee farmers in Vietnam, the world’s top grower of robusta beans, are forecast to gather a record crop in the 12 months from October 2015 as they improve cultivation methods and replace old trees with new varieties. Output that year may increase to an all-time high of 1.87 million metric tons, the median of estimates from nine traders and analysts compiled by Bloomberg shows. That’s 8.7 percent more than the record in 2013-2014. Average yields may rise to 2.83 tons per hectare from 2.65 tons as the area rises to 660,000 hectares from 650,000 hectares, the survey shows.
Viet Nam's seafood exports are expected to keep growing in 2014 as the country is seeing improvement signs from its main markets such as Japan, the EU and the US, as well as potentials from new markets like China and Hong Kong. According to Vietnam Association of Seafood Exporters and Producers (VASEP), in 2013, Vietnamese seafood products were available in 156 countries and territories, bringing back a total value of $6.8 billion, in which, the top ten importers represented 85 per cent.
While Vietnam has attained a strong track record of economic growth over the past 20 years, the drivers that fueled this growth are rapidly depleting, making it critical to develop new drivers of growth going forward. More competitive transport and trade logistics can become a new driver of sustained growth through their positive impact on productivity and their direct influence on business competitiveness.
In the view of Foreign Direct Invested (FDI) traders, the total value of exportation and importation in the second half of June reached over USD 7.51 billion, up by 8.8% in comparison to first half of June 2014. In the first 6 months of 2014, FDI traders was in trade surplus of USD 4.72 (exports was US dollars 43.72, rose by 17.1% and imports was nearly US dollars 39 billion, rose by 10.7%).
Foreign firms in Vietnam currently hold 80 percent of the market share, worth US$48 billion.