primary industries
The Primary Industries category covers agriculture, fisheries, forestry, and mining sectors. It explores production trends, global trade, resource management, and government policies, providing insights into investment opportunities, sustainability efforts, and market challenges in primary industries.
Vietnam’s base metals and metal product exports grow in October, YTD steady
Year-to-date figures also reflect stable growth. From January to October, exports in this category totalled US$3.47 billion, a 3.6 percent increase compared to the same period in 2023.
Vietnam’s ore and mineral exports surge in October, but year-to-date volume declines
However, year-to-date performance presents a mixed picture. From January to October, exports totalled 1.71 million tonnes, marking a 28.8 percent decline in volume compared to the same period in 2023. Despite this, export value rose by 11.1 percent, reaching US$174.41 million, likely reflecting higher unit prices.
Vietnam’s manioc exports surge in October, but year-to-date figures decline
From January to October, Vietnam exported 2.09 million tons of manioc and manioc products, valued at US$955.41 million. This represents a 12.7 percent decrease in volume and a 7 percent drop in value compared to the same period in 2023.
Vietnam’s fruit, vegetable processing posts strong annual growth despite October dip
The sector saw a 5.8 percent dip in October compared to September, likely attributable to some residual impacts of Typhoon Yagi earlier in the year–compared to October 2023, the industry showed remarkable resilience with an 18.8 percent year-over-year increase, driven by sustained export demand and domestic consumption.
Vietnam’s animal fodder imports soar in October
Argentina emerged as the leading supplier, with imports more than doubling, up 115.98 percent compared to September, while imports from Brazil surged by 154.23 percent, driven by rising shipments of key raw materials such as soybean meal and corn…
Vietnam tractor market set to grow 3.4 percent annually through 2029
The report attributes the market’s steady growth to increasing agricultural mechanisation, rising food demand, government support, and advancements in tractor technology.
Vietnam’s fruit and vegetable exports drop sharply in October but maintain strong year-to-date growth
Despite the October decline, year-to-date performance remains strong. From January to October, Vietnam exported fruits and vegetables valued at US$6.16 billion, representing a 27.8 percent increase compared to the same period in 2023…
Vietnam’s fishery exports grow in October and maintain steady year-to-date performance
Year-to-date figures also show consistent growth. From January to October, Vietnam’s fishery exports totalled US$8.25 billion, representing a 10.9 percent increase compared to the same period in 2023…
Agriculture sector sees drop in FDI with no new projects in October
Year-to-date, the sector has attracted nine projects with total capital amounting to US$91.53 million. This significant decline reflects the challenges in attracting consistent FDI in agriculture-related industries, which often depend on specific seasonal and market-driven factors.
Vietnam’s fertiliser exports rise in October, year-to-date figures show steady growth
Year-to-date figures also highlight positive performance. From January to October, Vietnam exported 1.44 million tonnes of fertilisers, generating US$590.54 million in value. This represents a 10.9 percent increase in volume and a 9.4 percent rise in value compared to the same period in 2023.
Vietnam’s crude oil exports plummet in October, year-to-date figures remain stagnant
Vietnam’s crude oil exports faced a sharp decline in October 2024, with export volumes dropping to 118,275 tonnes and a value of US$73.29 million. This represents a significant 58.6 percent decrease in volume and a 61.4 percent fall in value compared to September, which recorded 285,624 tonnes valued at US$189.70 million, according to Vietnam’s General Department of Customs
What’s left in the State Bank of Vietnam’s gold reserves?
The State Bank has said it will continue to sell gold bars from its gold reserves in order to ‘stabilise’ the gold market. Between June 3 to October 29, the central bank sold 305,600 taels of gold or about 11.46 tons of gold into the market from its reserves. At today’s gold price, US$84,880.7 a kilogram, those 11.46 tons would be worth US$972.7 million…
Vietnam’s coal exports decline in October, year-to-date figures remain under pressure
The decline in value both for October and year-to-date underscores challenges in the coal sector, including fluctuating global prices and demand shifts toward cleaner energy sources. While volume stability offers some optimism, addressing value declines will be critical for sustaining the sector’s contribution to Vietnam’s exports if that is indeed something Vietnam wants to continue…
Vietnam’s cashew nut exports show robust growth in October and year-to-date figures
Year-to-date figures reveal even more impressive growth. From January to October, Vietnam exported 609,229 tonnes of cashew nuts valued at US$3.58 billion, reflecting increases of 17.9 percent in volume and 21.4 percent in value compared to the same period in 2023…
Vietnam’s animal fodder exports rise in October, but year-to-date figures lag behind
Vietnam’s exports of animal fodders and animal fodder materials saw a notable increase in October, with export value reaching US$97.05 million. This marks a 22.6 percent growth compared to US$79.13 million in September, reflecting a strong recovery in export performance for the month…
Vietnam mining sector sees minimal FDI activity with no new projects in October
While the sector plays a role in Vietnam’s resource extraction, it has seen lower FDI interest compared to more dynamic sectors. Future growth will likely depend on policy reforms and sustainability initiatives to attract responsible and long-term investment in mining…
Vietnam coal imports see big fall in September
Of note, Indonesia and Australia were the primary coal suppliers. Imports from Indonesia rose 21.79 percent in volume to 1,843,809 tons, with a value increase of 12.22 percent to US$150.73 million. However, imports from Australia sharply declined by 48.78 percent to 968,088 tons in September, with a value drop of 52.47 percent.
Vietnam’s coal mining output falls by double-digits year-on-year in September
Of note, for the period from January to September 2024, production in the coal mining sector was down by 4.2 percent from the same period last year. It’s not clear what is driving this decline, however, it is inline with a contraction in production in Vietnam’s mining industry more broadly.
Unofficial online gold markets emerge in Vietnam on back of official-supply issues
The Vietnamese gold price has been out of sync with the world gold price for some time now, at points up to 20 percent higher. This led to the State Bank selling gold from its reserves at a fixed price to try and bring the price down. However, it looks a lot like it is only releasing a limited supply that is insufficient to meet demand, ergo consumers are turning to other sales channels…
Vietnam’s floriculture market set to reach US$3.4 billion by 2032
The sector’s growth can be attributed to increasing demand for flowers and ornamental plants, both domestically and internationally. Vietnam’s floriculture industry has gained recognition for its diverse range of high-quality flowers, with expanding export opportunities and rising consumer interest in ornamental plants driving further development.
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