Vietnam’s foreign trade volume may reach record levels in 2022, according to the General Bureau of Statistics, VNA reported on Nov. 30.
Vietnam’s foreign trade is expected to reach $780 billion in 2022. Vietnam’s Ministry of Agriculture and Rural Development said China’s rice imports turned from low to high at the end of 2022. Some EU countries also Vietnamese rice imports have increased to offset declining wheat supplies from Ukraine.
Against the background of growing exports of Vietnamese rice, its price has risen to $480 per ton, which is $13-28 more than a ton of Thai rice and $60-65 more than a ton of Indian grain.
In addition, exports of processing and manufacturing products also grew between 6% and 39.9%, helping to significantly increase the total value of exports in 2022.
According to Nguyen Tuong Lang, a professor at the Hanoi National University of Economics, Vietnam’s foreign trade could reach $1 trillion by 2025.
Source: Rossa Primavera
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