USDA’s Agricultural Trade Office (ATO) in Hanoi and in Ho Chi Minh City, hereinafter referred to as “Post,” reports Vietnam as the United States' 9th largest agricultural export market. Vietnam imported US$3.94 billion of food and agricultural products from the United States in 2022, a growth of 5% from 2013-2022. The top 10 U.S. products exports to Vietnam in 2022 were cotton, soybeans, distiller’s grains, forest products, dairy products, other feed meals and fodders, tree nuts, soybean meal, poultry meats and products, and fresh fruits. Vietnam is a country full of potential and opportunity for U.S. food and agricultural exporters.
Vietnam’s demand for high-value consumer-oriented and seafood products has rebounded thanks to record high domestic tourist arrivals. Growth of the modern food retail, e-commerce, hotel, restaurant, and institution (HRI), and food processing sectors continue to offer opportunities for imported food products, including those from the United States. Vietnam’s continued global economic integration generally allows more openings for foreign products and better alignment with international standards. Local food processors continue to increase production capacity and improve product quality by using quality ingredients to meet both local and international market demand. Growth in convenience food stores, full-service restaurants, convention and wedding centers, and fast-food chains creates opportunities for quality food and food ingredients. Food safety concerns boost demand for imported food products, especially from developed countries. The Vietnamese economy recovered in 2022 from the pandemic, with a growth rate of 8.02%, the fastest pace in 15 years and higher than the government’s target of 6.0% to 6.5%.
In 2022, Vietnam was the 9th largest export destination for U.S. products, with exports totaling nearly US$3.5 billion, a 3% increase over 2021. The United States is Vietnam’s second largest supplier of agricultural goods, generally representing around 12% of the total import market. For many years, cotton has been the top U.S. product exported to Vietnam by a wide margin, remaining so in 2022 despite a decline from 2021. The largest year-to-year export increase was seen in soybean meal, at US$104 million, a 149% increase over 2021. Exports of corn, dairy products, and distillers’ grains also performed well, increasing by US$97 million, US$95 million, and US$77 million, respectively. Commodities showing declines in 2022 included cotton, down US$135 million, and fresh fruit, down US$35 million. Vietnam was the 2nd largest export destination for U.S. cotton and distillers’ grains, 10th largest for soybeans, and 8th largest for dairy products.
