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Vietnam offers abundant opportunities for exporting consumer-oriented products, despite the challenges of recovering from the COVID-19 pandemic and dealing with high inflation. The Vietnamese economy is poised for significant expansion in the coming decades. With a burgeoning population and a growing middle class, Vietnamese consumers are becoming more discerning about the origin and composition of their food.
In the first quarter of 2021, U.S. soybean exports reached the second-highest value ever at $7.7 billion, nearly double the same period last year.
Vietnam, Thailand, and Burma (Myanmar) are part of the fastest developing region in the world and account for roughly 221 million of Southeast Asia’s population.
In the past decade, one of the most apparent trends agricultural trade patterns has been the growth in agricultural trade between developing countries or so-called “South-South trade.”
U.S. exports of fish and seafood reached a record $5.3 billion in FY 2014. Recent growth in U.S. exports has primarily been due to increased volume rather than higher prices.
U.S. agricultural exports to Southeast Asia have experienced extremely rapid growth in recent years and, in FY 2014, they climbed to a record $11.5 billion – up 11 percent from FY 2013.