Vietnam was Spain's largest supplier of coffee by volume in 2022. - Illustrative image (Photo: vneconomy.vn) Hanoi (VNA) – Vietnam was Spain's largest supplier of coffee by volume in 2022, with 113,550 tonnes worth 269 million EUR (287 million USD),up 21.6% in volume and 78.9% in value against 2021.
The Ministry of Industry and Trade (MoIT)'s Import-Export Department cited statistics of the Statistical Office of the European Communities (EUROSTAT) as saying that the market share of Vietnamese coffee in Spain's total importsfrom the global market accounted for 30.16% in 2022.
Statistics compiled by the department indicate that Vietnam exported 342,300 tonnes of coffee in thefirst two months of the year, earning 745.28 million USD, down 7% in volume and 9.5 percent in valueyear-on-year.
Illustrative image (Photo: VNA) In Februaryalone, the country shipped abroad over 200,000 tonnes of coffee worth 434.9 millionUSD to foreign markets, up 40.3% in volume and 40.1% in value compared tothe previous month.
Notably, in the January-February period, Vietnam's coffee exports toalmost traditional markets increased. The country recorded 2- to 3-digit growthrates to markets such as Algeria, the Netherlands, Mexico,Russia, and Italy.
According to the department, Spain is the 8th largest tradingpartner of Vietnam in the EU, and the 8th biggest importer of Vietnamese goods.
Last year, the two-way trade between Vietnam and Spain hit 3.54billion USD, 13% higher than that recorded in 2021. This was the highest growthrate ever.
The two countries have witnessed the sound development ofbilateral relations and there is a bright prospect for the two sides to furtherexpand their relationship, especially in economic, trade, and investment cooperation.
Spain'scoffee sector is forecast to grow by 6.84% in the 2022-2025 period, therefore thereis ample room for Vietnamese coffee exporters to exploit the European market.
Vietnamese localities and business associations have been advised to coordinatewith the Vietnam Trade Office in Spain in organising seminars to introduce potentialbusiness and cooperation opportunities for businesses, exporters and importers ofthe two countries.
𝐆 Exportbusinesses need to improve and maintain the quality and brand value of theirproducts in the Spanish market, the office said./.
