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Vietnam’s pastry, sweets, and cereal product exports fall by 16.28 percent in January

Vietnam’s exports of pastry, sweets, and cereal products declined by 16.28 percent month-on-month in January, reaching US$97.83 million, according to Vietnam’s General Department of Customs.

The US remained the largest market, accounting for 14.74 percent of total exports at US$14.42 million, a 25.58 percent decrease from December. Japan followed with US$10.85 million, representing 11.09 percent of total exports, increasing by 16.36 percent. South Korea ranked third with US$8.01 million, making up 8.19 percent of total exports, down 16.41 percent.

Compared to December, Saudi Arabia recorded the highest growth, rising by 62.08 percent to US$694,709. Kazakhstan and Myanmar also saw notable increases, growing by 55.36 percent and 42.97 percent, respectively. Meanwhile, exports to Russia and Taiwan declined sharply, falling by 63.42 percent and 52.85 percent, respectively.

The top five markets—the US, Japan, South Korea, China, and the Netherlands—accounted for 45.38 percent of Vietnam’s total pastry, sweets, and cereal product exports in January. Despite growth in select markets, overall exports fell due to weaker demand from key buyers.

See also: Food and Beverage Industry in Vietnam

Vietnam’s pastry, sweets, and cereal product exports, January, US$ millions

January December MoM YTD % of Total
Total 97.83 116.85 -16.28% 97.83 100.00%
Other 10.12 9.93 1.92% 10.12 10.34%
USA 14.42 19.37 -25.58% 14.42 14.74%
Japan 10.85 9.33 16.36% 10.85 11.09%
South Korea 8.01 9.58 -16.41% 8.01 8.19%
China 5.67 6.24 -9.03% 5.67 5.80%
Netherlands 5.43 5.62 -3.22% 5.43 5.56%
Cambodia 5.42 6.74 -19.51% 5.42 5.54%
Germany 4.03 4.01 0.44% 4.03 4.12%
Australia 3.71 4.61 -19.54% 3.71 3.79%
France 3.45 2.80 23.42% 3.45 3.53%
Poland 3.40 5.12 -33.61% 3.40 3.47%
UK 2.86 3.25 -11.85% 2.86 2.92%
Taiwan 2.82 5.98 -52.85% 2.82 2.88%
Philippines 2.74 3.48 -21.36% 2.74 2.80%
Indonesia 2.36 2.26 4.12% 2.36 2.41%
Thailand 1.91 2.52 -24.27% 1.91 1.95%
Russia 1.52 4.15 -63.42% 1.52 1.55%
Singapore 1.49 1.70 -12.42% 1.49 1.53%
Canada 1.49 3.11 -52.16% 1.49 1.52%
UAE 1.43 1.96 -26.81% 1.43 1.47%
Malaysia 1.28 1.74 -26.77% 1.28 1.31%
Saudi Arabia 0.69 0.43 62.08% 0.69 0.71%
Laos 0.67 0.84 -20.79% 0.67 0.68%
Hong Kong 0.66 0.92 -28.31% 0.66 0.67%
Kazakhstan 0.39 0.25 55.36% 0.39 0.40%
India 0.34 0.31 11.41% 0.34 0.35%
Senegal 0.31 0.29 4.74% 0.31 0.32%
Myanmar 0.20 0.14 42.97% 0.20 0.20%
South Africa 0.12 0.09 34.42% 0.12 0.13%
Czech Republic 0.05 0.10 -50.82% 0.05 0.05%

See also: How to Start an Export Business in Vietnam