Vietnam's exports are hampered by rising inflation in the economy
- 136
- Business
- 22:44 17/07/2023
DNHN - As a bright spot in the economy, Vietnam's exports are struggling due to rising global inflation and a decline in demand in many markets.
Several commodity groups, such as raw materials and industrial processing; Agricultural products have fallen precipitously, and key products with strengths, such as seafood and textiles, are "hungry" for orders, putting exporters at risk of losing their markets. Due to a lack of orders and a downward trend in commodity prices, the export turnover target for this year faces numerous obstacles.
Diversification of export markets is a matter of survival for businesses in the current environment, although the traditional markets of Vietnam will not be easily altered in one to two years.

It can be seen that Vietnam's seafood exports in the first half of the year totaled approximately USD 4 billion. Despite being equivalent to the same period last year, it raises many concerns for the completion of the $10 billion this year. In general, the export volume of seafood is still declining, but in recent months it has shown signs of stabilization and remains slow. In 2022, the import markets have shown signs of resolving their excess inventory. This indicates that new orders will increase shortly.
In addition, seafood, especially value-added products, are frequently in high demand during the holiday season. Additionally, the Chinese market has a stronger consumption capacity. In the meantime, some nations will conclude their harvests, so we hope that the situation of seafood exports in the final months of the year will improve rapidly.
Companies continue to monitor and assess the consumption situation of markets, primarily the United States. Alongside this is the question of how to produce sufficient materials for processing when the market recovers. Although the price is unsatisfactory to farmers, it is still possible to secure the raw material supply. Businesses must also be better prepared for 2024, which will be centered on providing farmers with cheaper inputs.
In addition to trade promotion and market expansion, the company continues to improve its quality through international certifications and a green economy to build brands and promote Vietnamese seafood.
Vietnam must significantly expand its export market because it has signed trade agreements with numerous countries. Vietnam's export activities with countries with which it has signed trade agreements are still modest and do not match their potential or expectations. Therefore, expanding the market is an issue that businesses must consider and for which they require the assistance of state agencies.
In addition, the problem facing businesses today is the domestic market, to which Vietnamese businesses have not paid sufficient attention; thus, they must determine how to approach the domestic market to export locally. Additionally, meeting domestic demand is a factor that businesses must consider.
Ngoc Phi (TH)
Related news
- Prime Minister: Vietnam aims to become a regional logistics hub
- Vietnam upgraded to Secondary Emerging Market by FTSE Russell
- Hanoi’s economy grows 7.92% in first nine months of 2025, FDI surges nearly threefold
- Vietnam’s strong gdp growth fails to ease labor market distress
- US tariffs on Brazil propel Vietnam’s pangasius into global spotlight
- VietLeap AI Accelerator launches: A strategic springboard for Vietnam’s AI startups
- CICON expands strategic alliances: A new step forward in Vietnam–Korea business connectivity
- What must Vietnamese enterprises do to maintain their position in the global supply chain?
- Vietnam advances cybersecurity law to boost digital sovereignty and business resilience
- Vietnam embraces digital tools to modernize public administration
- Administrative procedures for establishing the national technology exchange reduced to one application set
- Vietnam hits highest FDI inflow since 2009, fuels industrial real estate boom
- Foreign investors expected to open 150,000 new securities accounts in the next 5 years
- Government’s plan to implement Law on Digital Technology Industry approved
- Vietnam launches “Private Economy Panorama Model” to foster public-private national development
- Shark Nguyễn Hòa Bình: Hanoi will become the capital of startup innovation.
- Deputy Prime Minister Lê Thành Long meets with Osaka Governor Yoshimura Hirofumi to promote Vietnam–Japan cooperation.
- The master sales secrets of luxury king Bernard Arnault that make the world spend
- White House: When politics and technology join forces to rewrite the global AI order
- Da Nang proposes semiconductor cooperation with Oregon (USA)
Đọc thêm Business
Vietnam upgraded to Secondary Emerging Market by FTSE Russell
FTSE Russell has officially upgraded Vietnam’s stock market to Secondary Emerging Market status, effective September 2026, marking a historic milestone for the country’s financial integration and global investment appeal.
US tariffs on Brazil propel Vietnam’s pangasius into global spotlight
Vietnam’s pangasius industry eyes $2 billion worth of exports in 2025 amid shifting US trade policy and a global supply realignment.
CICON expands strategic alliances: A new step forward in Vietnam–Korea business connectivity
On the afternoon of September 26, 2025, a strategic cooperation signing ceremony took place between CICON (Korea) and its key Vietnamese partners, including the Ho Chi Minh City Association of Small and Medium Enterprises (HUBA), Doanh nghiệp & Hội n
What must Vietnamese enterprises do to maintain their position in the global supply chain?
Mr. Lu Wei Chieh, General Manager of Cathay United Bank – Ho Chi Minh City Branch, shared with Business & Integration Magazine key strategies that can help Vietnamese enterprises not only stand firm but also go further amid shifting global dynamics.
Vietnam hits highest FDI inflow since 2009, fuels industrial real estate boom
This robust inflow is not only transforming the country’s industrial landscape but also signaling Vietnam’s rising role in the global supply chain amid shifting geopolitical dynamics.
Foreign investors expected to open 150,000 new securities accounts in the next 5 years
The Ministry of Finance has set an ambitious target to increase the number of securities trading accounts held by foreign investors in Vietnam to 200,000 by 2030—four times higher than the current figure.
Vietnam launches “Private Economy Panorama Model” to foster public-private national development
Billionaire Nguyen Thi Phuong Thao emphasizes that entrepreneurs’ responsibilities extend beyond profits to creating social value.
Deputy Prime Minister Lê Thành Long meets with Osaka Governor Yoshimura Hirofumi to promote Vietnam–Japan cooperation.
As part of his working visit to Japan and participation in the Vietnam National Day at EXPO 2025 Osaka, on September 8, Deputy Prime Minister Lê Thành Long held talks with Osaka Governor Yoshimura Hirofumi.
Larry Ellison’s lesson: Enduring success starts with fixing the market’s pain points
As of today, Larry Ellison has risen to become the world’s second-richest billionaire with a fortune of nearly $260 billion, surpassing familiar names such as Jeff Bezos and Warren Buffett.
The master sales secrets of luxury king Bernard Arnault that make the world spend
Billionaire Bernard Arnault, Chairman of LVMH (Moët Hennessy Louis Vuitton), controls more than 70 of the world’s most prestigious luxury brands, from Louis Vuitton and Dior to Moët & Chandon and Bulgari.