The most popular Vietnamese export products 2022

Import – export is always a hot topic of many businesses. Join us to find out the most popular Vietnamese export products in 2022 under the following article

Mobile phone electronic components

According to data from the General Department of Import-Export Statistics, the top 1 export products of Vietnam are not traditional products but electronic products, which are phones and components.

In May 2022, export items including phones of all kinds and components witnessed a sharp deceleration, decreasing by nearly 30% compared to the previous month, reaching a value of US$ 4.12 billion.

However, despite the decrease compared to April, in general, in May 2022, these items still increased by 13.9% compared to the same period in 2021, reaching 24.78 billion USD.

The major export markets of these products are still the EU, the United States and China. In which, exports of phones and components to the US increased sharply by 17.2%, reaching nearly 3 billion USD.

Textiles

At the beginning of May, 2022, the top 2 famous Vietnamese export products are textiles and garments. Export turnover of this item reached 18.7 billion USD, increasing 24% over the same period.

Currently, export turnover of textiles and garments to the US is still very high, increasing 27% over the same period, reaching 7.6 billion USD, accounting for 54% of total garment export turnover.

Most of the domestic garment manufacturing companies have production orders until November 2022 due to the shift of orders from China to Vietnam.

Footwear

In April 2022, the export rate of footwear products increased rapidly by 12.4%, reaching over US$ 7.32 billion over the same period last year. In general, in 2022, the footwear industry has targeted to develop into many major international markets, and at the same time increased 10-15% of export volume in the same period.

In the footwear export markets, the US is the marker with the largest export rate with a total turnover of 3.16 billion USD, accounting for 43% of the total export turnover of this product.

Wood and wood products

According to a statistical report in early May 2022, the total export turnover of wood and wood products increased by 6.9% to reach US$ 7.15 billion over the same period in 2021.

With the results achieved in the first 5 months of 2022, it is entirely possible that the export turnover of wood and wood products is expected to increase by 8% in the second half of the year to 2022.

Rice 

In June 2022, Vietnam’s rice export output increased by nearly 12.3% in volume and slightly increased by 0.7% in value, reaching 3.11 million tons, worth $1.52 billion over the same period last year. 2021.

Rice export prices also tend to increase rapidly, currently at $420/ton for 5% broken rice, because the conflict between Russia and Ukraine has caused food demand to increase and customers gradually switch to buying rice from other countries in Asia. However, the above price is still considered to be lower than the same period in 2021 at $470/ton.

Opportunities and challenges for Vietnamese export products

Facing the golden potentials, there are also many challenges for Vietnamese products to export.

Opportunity

Vietnam’s export products are on the rise in recent years. The trade balance has always increased, contributing a huge percentage to the overall growth of the economy.

Challenges

Vietnam gets a lot of profit from export, but it is still mainly thanks to the contribution of foreign invested enterprises. Therefore, the added value created by Vietnamese enterprises is still very low.

Meanwhile, the world market today is equally volatile. The US President imposed tariffs on aluminum steel and Vietnamese catfish products, leading to increased pressure on seafood exports.

In addition, China has raised the requirement for information on the origin of agricultural and forestry products, which is detrimental to the export industry. .

Based on the above article, surely readers have also understood more about the popular Vietnamese export products. If you have any questions, please leave a question or comment below this article