Imports from the US to Vietnam increased by nearly 23%

In the first 7 months of the year, imports from the US to Vietnam reached more than 10.5 billion USD, an increase of nearly 23%, covering everything from fruits, seafood to production materials.

American lobsters at a seafood shop on Ly Tu Trong Street, Ben Nghe Ward, Ho Chi Minh City. Photo: TRAN VAN TRUONG

In early September, high-end grocery stores in Ho Chi Minh City were always crowded with customers at the imported fruit counter. California peaches - available for the first time in Vietnam, priced at nearly VND500,000 per kilogram - continued to attract consumers, while American cherries were "sold out" with prices dropping 30 - 50% compared to the same period last year.

The appeal of American products does not only come from fruit. In many restaurants, American lobster and North American trumpet snails - newly introduced since the beginning of the year - have quickly become trendy dishes, sometimes in short supply, according to the Royal Seafood chain.

Not only for consumption, American goods also penetrate into every link of production. According to the Customs Department, in the first 7 months of the year, imports from the US reached more than 10.53 billion USD, an increase of nearly 23% compared to the same period last year (8.59 billion USD).

Cotton continued to lead with nearly 940 million USD, up 56%, accounting for nearly 9% of total turnover, raw plastic materials reached 656 million USD (up nearly 49%), while scrap iron and steel doubled to 124.7 million USD, reflecting signs of recovery in the construction and steel industries.

US agricultural and food products such as vegetables and fruits reached 353 million USD, up 47%, animal feed was 447 million USD, up 27%, soybeans 248 million USD, up nearly 8%. On the contrary, some industrial product groups such as chemicals decreased 33% and tobacco raw materials lost 25%.

In the high-end meat segment, American beef is still considered to have great potential due to high domestic demand while domestic livestock production has not yet met the demand. However, the tax rate is slowing down import production when it is applied at 14% for boneless meat and 20% for boned meat. According to the American Beef Association in Vietnam, if the tax is reduced to 0%, import output could increase by 20-30% in just half a year and the selling price could be more competitive than that from Australia or Canada. Currently, American beef brisket is still being sold in supermarkets for 400,000-500,000 VND per kg and is popular in high-end restaurants and hotels.

The US seafood industry also expects preferential tax policies to increase competitiveness, because price is still the decisive factor for the Vietnamese market.

In the fruit sector, products such as Washington apples (Gala, Fuji, Cosmic), grapes, cherries and California nectarines are increasingly popular. Some imported fruits have had their tariffs reduced to about 3% since the end of March, making them more accessible to consumers. In particular, California nectarines, with their soft skin like apples but peach-like flesh, have attracted attention when they first hit the shelves and attracted positive reception.

Not only doing business, the US also promotes its image through cuisine . The American Food Week in Ho Chi Minh City, in collaboration with 10 restaurants, introduced dishes made from beef, poultry, California cheese, New York wine, Washington apples, blueberries, potatoes and seafood from the Northeast.

Ms. Melissa A. Brown, US Consul General in Ho Chi Minh City, affirmed that this is not only an opportunity to promote American flavors, but also an opportunity to celebrate 30 years of Vietnam - US diplomatic relations. "The US is proud to be a reliable partner, providing high-quality agricultural products to Vietnam," she emphasized.

According to the Vietnam Fruit and Vegetable Association, American goods bring more choices to consumers and new sources of raw materials for production. However, if preferential tariffs continue, the competitive pressure on domestic products from agricultural products to seafood and meat will become more obvious, posing a significant challenge to Vietnamese businesses.

PV - VNE

Source: https://baohaiphong.vn/hang-nhap-khau-tu-my-vao-viet-nam-tang-gan-23-519591.html