Vietnam-New Zealand trade to reach $2 Billion by FY22-23

 

Recently, the New Zealand's prime minister, Jacinda Ardern paid a visit to Vietnam in order to strengthen the bilateral trade with Vietnam. Both the nations are planning to expand the bilateral trade to $2 billion by 2024 with year on year basis. Delegates from both sides have invested in manufacturing, aviation, consulting sectors. As per the Vietnam customs data reports, Vietnam exports to New Zealand are growing at the rate of 19% annually.

According to the Vietnam import export data, the key exports from Vietnam to New Zealand were mainly Electrical, Electronics Equipment, Footwear, Machinery, Furniture and Edible Fruits, Nuts  in 2022. Broadcasting equipment covers over 30% of the total Vietnamese exports to New Zealand. Textile footwear, Leather footwear, Coconuts, Cashews, Cleaning goods and Cargo Ships were the emerging products exported from Vietnam. In the financial year 2022, Vietnam exports to New Zealand were around 946 million dollars.

On the other hand, Vietnam did a significant amount of imports from New Zealand in the fiscal year 2022. The major sectors of imports from New Zealand to Vietnam were Diary, Forestry, and Education. According to the Vietnam import data records, the value for products imported by Vietnam from New Zealand were around 1.12 billion dollars in the financial year 2022.

The major product exports from New Zealand to Vietnam were mainly Dairy Products ($312 M), Edible Fruits & Nuts ($119 M), Food Preparations ($53 M), Wood Articles ($45 M), Sea Food ($14 M), Iron & Steel ($13 M), Leather ($12 M), Machinery ($9 M), Electrical Equipment ($6 M) and Edible Meat ($5.8 M). The top gainers were Concentrated Milk, Butter, Apples, Pears, Cheese, Scrap Iron & Food Preparations.

New Zealand fruit exports were hit in Vietnam's market. It was the second most exported product from New Zealand to Vietnam. The total fruits exports from New Zealand was estimated around 125 million New Zealand dollars. According to the import export data global reports, the top fruits exports from New Zealand to Vietnam were apple, pear, cherry, persimmons, blueberry and kiwi berry. 

Our Vietnam export data suggests that Vietnam's top fruits exports to New Zealand includes dragon fruit, rambutan, green lemon, grapefruits and mangosteen. New Zealand provides its high quality fruits available in the Vietnamese market through Vinmart. Golden Bay Fruit, Bostock, Rockit, Freshmax and Mr Apple are the top fruit sellers from New Zealand to Vietnam.

As Vietnam is a tech giant, New Zealand can make advancement in its technology by importing quality electrical electronics goods from New Zealand. While Vietnam can import high quality agricultural goods from New Zealand. The trade pact between the two countries will further prosper their trade relationship.

Through the Exim Trade Global Trade Intelligence System, companies from Vietnam and New Zealand can benefit their business. It comes with brief market intelligence reports through which businesses can identify the major imports, exports, top hs codes, origin country, destination country, importer, exporter contact and their networks. 

This will help you guide your way to reach genuine business prospects in the global market. The Exim Global import export data tool is the best way to get qualified leads at very minimal cost. To transform your business and reach good ROI, companies can bank upon Exim Global Trade Intelligence System.