A different perspective on Vietnam’s economy and doing business in Vietnam. Make sure to  subscribe.

Vietnam’s rice exports decline by 10.54 percent in January

Vietnam’s rice exports fell by 10.54 percent month-on-month in January, reaching US$324.89 million, according to Vietnam’s General Department of Customs.

The Philippines remained the largest market, accounting for 38.59 percent of total exports at US$125.39 million, a 9.00 percent decrease from December. The Ivory Coast followed with US$51.77 million, representing 15.93 percent of total exports, increasing by 102.87 percent. Ghana ranked third with US$40.07 million, making up 12.33 percent of total exports, rising by 42.36 percent.

Compared to December, Chile recorded the highest growth, increasing by 2500.42 percent to US$1.10 million. France and Poland also saw significant increases, growing by 32.30 percent and 29.45 percent, respectively. Meanwhile, exports to China and Hong Kong declined sharply, falling by 38.52 percent and 41.91 percent, respectively.

The top five markets—the Philippines, Ivory Coast, Ghana, Turkey, and China—accounted for 73.18 percent of Vietnam’s total rice exports in January. Although some smaller markets experienced growth, the overall decline reflects reduced demand in major export destinations.

See also: Food and Beverage Industry in Vietnam

Vietnam’s rice exports, January, US$ millions

January December MoM YTD % of Total
Total 324.89 363.17 -10.54% 324.89 100.00%
Other 43.58 37.55 16.07% 43.58 13.41%
Philippines 125.39 137.79 -9.00% 125.39 38.59%
Ivory Coast 51.77 25.52 102.87% 51.77 15.93%
Ghana 40.07 28.15 42.36% 40.07 12.33%
Turkey 14.05 0.00 #DIV/0! 14.05 4.32%
China 9.77 15.89 -38.52% 9.77 3.01%
Malaysia 8.80 11.62 -24.25% 8.80 2.71%
Singapore 7.67 9.23 -16.88% 7.67 2.36%
Mozambique 5.32 4.44 19.83% 5.32 1.64%
UAE 2.84 3.90 -27.09% 2.84 0.87%
Hong Kong 2.54 4.38 -41.91% 2.54 0.78%
USA 2.41 3.69 -34.71% 2.41 0.74%
Cambodia 2.17 2.95 -26.36% 2.17 0.67%
Australia 1.80 3.54 -49.24% 1.80 0.55%
Saudi Arabia 1.56 2.32 -32.84% 1.56 0.48%
Chile 1.10 0.04 2500.42% 1.10 0.34%
Netherlands 0.80 0.90 -10.67% 0.80 0.25%
Poland 0.74 0.57 29.45% 0.74 0.23%
Taiwan 0.49 0.46 5.66% 0.49 0.15%
France 0.49 0.37 32.30% 0.49 0.15%
South Africa 0.42 0.55 -23.84% 0.42 0.13%
Indonesia 0.35 67.40 -99.48% 0.35 0.11%
Tanzania 0.33 1.22 -72.53% 0.33 0.10%
Spain 0.16 0.13 26.10% 0.16 0.05%
Russia 0.16 0.41 -61.10% 0.16 0.05%
Ukraine 0.07 0.00 #DIV/0! 0.07 0.02%
Senegal 0.02 0.18 -87.79% 0.02 0.01%
Iraq 0.02 0.00 #DIV/0! 0.02 0.01%

See also: How to Start an Export Business in Vietnam