Vietnam’s meat import sector is experiencing significant growth, with projected spending reaching US$1.7 billion in 2024. The country’s meat and meat by-products imports surged by 14.2% year-on-year, amounting to nearly US$1.6 billion in the first 11 months of the year, according to the General Department of Customs.
This positive trend reflects Vietnam’s increasing demand for high-quality meat products, with India continuing to be the top supplier, accounting for nearly 23% of total meat imports. Vietnam has also seen increased imports from other key markets, including Australia, the United States, Canada, Poland, South Korea, the Netherlands, Italy, Turkey, Japan, Belgium, and France, showcasing the country’s diverse and expanding trade relationships.
Pork imports, particularly from Brazil, have been a significant focus, with Brazil leading the charge at 39.28% of total pork imports. This continued growth in Vietnam’s meat imports highlights the country’s increasing reliance on global suppliers to meet domestic market needs.
The upward trajectory of meat imports is largely driven by the successful implementation of several free trade agreements (FTAs), which have effectively reduced tariffs and made imported meat products more affordable for local businesses. These FTAs not only benefit the Vietnamese market but also encourage trade between Vietnam and its global partners.
Vietnam’s position as one of the top pork-consuming countries worldwide further reinforces the importance of this trade. With forecasts indicating steady growth in domestic pork production, Vietnam’s expanding meat import sector is set to continue fueling its trade relationships and strengthening its presence in the global food supply chain.
This growth in meat imports is a testament to Vietnam’s vibrant and increasingly interconnected role in global trade, supporting businesses and contributing to economic prosperity.
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