• June 12, 2024
Trade Opportunities for New Zealand in Vietnam
A trade delegate from New Zealand travelled to Vietnam to discuss future trade opportunities in the expanding Southeast Asian market. According to New Zealand Prime Minister Jacinda Ardern, there are over $2 billion in trade potential for New Zealand in Vietnam.
Trade is likely to take centre stage, with Vietnam and New Zealand aiming for $2 billion in two-way trade each year by 2024.
This follows years of investment by both parties in the NZ-VN partnership, a relationship that has provided significant benefits to both countries.

New Zealand FDI projects in Vietnam

New Zealand has 42 FDI projects in Vietnam in 2021, with a total registered investment of around US$209.5 million. This was an increase from 32 projects in 2019.
This investment was made in a variety of industries, including real estate, education, manufacturing, and processing, and it is expected to grow even more.
At least 18 companies from the consultancy, aviation, and manufacturing industries are represented in Ardern’s trade delegation.
Aware Group, Berryco, Boring Oat Milk, Callaghan Innovation, Creative HQ, ecostore, Gentrack Limited, Kiwigarden, Little Beauties, Miraka, New Zealand International Commercial Pilot Academy Limited (NZICPA), Plant and Food Research, SIEBA, T&G Global, TMC Ltd, University of Auckland, and Zespri are among these.

Trade relations between Vietnam and New Zealand

Three key regional agreements govern trade between New Zealand and Vietnam:
– The Comprehensive and Progressive Trans-Pacific Partnership Agreement (CPTPP)
– ASEAN – Australia – New Zealand (AANZFTA)
– Regional Comprehensive Economic Partnership (RCEP)
Furthermore, both Vietnam and New Zealand have agreed to join the Indo-Pacific Economic Framework (IPEF). The specifics of where this agreement may lead are unknown, but it demonstrates a common approach to international trade.

New Zealand’s exports to Vietnam

By the end of the fiscal year in June 2022, New Zealand’s exports to Vietnam had increased to NZ$1.03 billion (US$624 million), up from S$546 million in 2020.

Dairy

New Zealand is known for producing some of the world’s best dairy products due to its cold temperature and clean air.
Vietnam, on the other hand, has a growing middle class with a taste for milk but an industry that can only meet 40-50 percent of the country’s need.
These two reasons have resulted in a significant increase in New Zealand’s dairy exports. Dairy, eggs, honey, and consumable items contributed for more than half of New Zealand’s Vietnam exports (US$485 million) in 2021.

Education

New Zealand has an excellent education system and invites international students from all around the world.
5,000 of those overseas students were Vietnamese nationals in 2019. However, during COVID, this number decreased to 2,000, a reality Ardern hopes to reverse with her visit to Vietnam: “We are aiming to spark and build that market again post-Covid,” she added.

Forestry products

New Zealand’s abundant natural resources have also been essential to trade between the two countries.
Wood exports from New Zealand to Vietnam totaled little over US$107 million in 2021, accounting for slightly more than 10% of overall NZ exports to the Southeast Asian country.

Top 5 exports from New Zealand to Vietnam

New Zealand Exports to Vietnam (2021)
Dairy products, eggs, honey, edible productsUS$485.59M
Edible fruits, nuts, peel of citrus fruit, melonsUS$133.63M
Wood and articles of wood, wood charcoalUS$107.02M
Miscellaneous edible preparationsUS$64.03M
Iron and steelUS$30.02M
Source: Trading Economics

Vietnam’s exports to New Zealand

Vietnam’s exports to New Zealand totaled NZ$1.36 billion (US$824 million) by the end of the fiscal year in June 2022, the majority of which was electronics and electrical equipment, but this figure also includes footwear and travel services.

Electronic machinery

In comparison to New Zealand, Vietnam’s relatively low-cost labour has been the backbone of its exports to the much smaller Pacific nation.
As an electronics manufacturing powerhouse, Vietnam exported over US$230 million in electronics and electrical equipment to New Zealand in 2020.

Footwear

Vietnam’s third largest export sector is footwear. Vietnam exports approximately 1 billion pairs of shoes per year, including approximately US$40 million in Vietnamese shoes to New Zealand in 2020.

Travel services

Vietnam’s distinct culture, combined with a recent push toward a more open tourism industry, has resulted in a boom in the sector.
Vietnam has proven to be an appealing destination for Kiwis who enjoy traveling, with an estimated 28,000 New Zealanders visiting Vietnam in 2019.

Top 5 exports from Vietnam to New Zealand

Vietnam Exports to New Zealand (2020)
Electrical, electronic equipmentUS$230.41M
Footwear, gaiters and the likeUS$39.87M
Machinery, nuclear reactors, boilersUS$30.97M
Furniture, lighting signs, prefabricated buildingsUS$29.24M
Edible fruits, nuts, peel of citrus fruit, melonsUS$19.76M
Source: Trading Economics

Opportunities for New Zealand in Vietnam

Food, commodities, and technology, according to New Zealand’s Ministry of Foreign Affairs and Trade (MFAT), are all major growth sectors for New Zealand enterprises in Vietnam.
According to MFAT, Vietnamese supermarket chains are rapidly expanding, creating “important product-to-market channels for exporters” that can assist New Zealand items reach consumers faster.
This could be especially advantageous for Kiwi exporters of perishable goods.
Furthermore, MFAT believes that commodities such as timber and aluminium can play an important role in Vietnam’s development. In the manufacturing industry, these resources are in high demand. As Vietnam’s manufacturing sector expands, so will demand for these imports.
Technology is also mentioned by MFAT as a sector that could provide opportunities for New Zealand.
“High-tech and low-emissions agriculture, sustainable food production, water and natural resource management, digital transformation, marine science and technology, and innovation and technology to address environmental degradation and the threat of climate change are other areas of opportunity and growth potential,” it says.

If you are interested in Vietnam manufacturers, or any other vietnam manufacturers, TradeData.Pro has all the trade data you will require to help you find manufacturers or contact information for manufacturers. If you would like to start importing Vietnam products, TradeData.Pro has all the supplier information you need and pricings to make a decision.

If you’re looking to diversify risks for your business, you may want to consider investing in Vietnam, as it has been the hottest industry lately, especially for US businesses.

To stay updated on Vietnam, you can view all this information on Vietnam here on our platform: https://data.cic-tp.com/asia-trade-data/vietnam-import-export-data

Find the exact product you are interested in here at https://tradedata.pro/trade-database-demo/

To find out more about accessing a new market, you can check out this article which shows you how to use Trade Data Pro to access Global Trade Markets: https://blog.tradedata.pro/say-hello-to-our-new-release-of-tradedata-pro/

In addition, Vietnam has been the hottest industry lately. To stay updated on Vietnam, you can view all this information on Vietnam here on our platform: https://data.cic-tp.com/asia-trade-data/vietnam-import-export-data

Find the exact product you are interested in here at https://tradedata.pro/trade-database-demo/

To find out more about accessing a new market, you can check out this article which shows you how to use Trade Data Pro to access Global Trade Markets: https://blog.tradedata.pro/say-hello-to-our-new-release-of-tradedata-pro/

Need more resources to launch your international business? You can also check out our post on the key 10 steps to expand your business.

Check out this post on how to utilise TradeData.Pro to access Global Trade Markets and learn more about examining new markets: https://blog.tradedata.pro/say-hello-to-our-new-release-of-tradedata-pro/

Find the exact product you are interested in here at https://tradedata.pro/trade-database-demo/

Competitive intelligence can also assist you with your business strategy. Read more about it here.

Learn more about TradeData.Pro and access customs import and export data to maximise your business. Contact us at sales@cic-tp.com for a demo now!

Find the exact product you are interested in here at https://tradedata.pro/trade-database-demo/

To find out more about accessing a new market, you can check out this article which shows you how to use Trade Data Pro to access Global Trade Markets: https://blog.tradedata.pro/say-hello-to-our-new-release-of-tradedata-pro/

You will need to have access to global market data to grow your business, and TradeData.Pro is exact tool for that.

Find the exact product you are interested in here at https://tradedata.pro/trade-database-demo/

Check out this post to learn more about entering a new market and how to utilise TradeData.Pro.

If you’re looking for more info on Russia oil exports and imports, you may check out TradeData.Pro’s detailed shipping data here.

If you want to know more about how you can take advantage of export and import data in trade and business, check out our blog resources.

To find out more about accessing a new market, you can check out this article which shows you how to use TradeData.Pro to access Global Trade Markets: https://blog.tradedata.pro/say-hello-to-our-new-release-of-tradedata-pro/

The most trustable and reliable source for Trade Data.

TradeData.Pro is proudly made in Singapore. Singapore has been one of the world’s most politically stable countries, with an open and trade-driven economy. TradeData.Pro is presented by CIC, a government-linked company in Singapore CIC is a Join Venture of Zall Smartcom, SGX and GeTS.)

Since the launch of TradeData.Pro in 2018, TradeData.Pro has received overwhelmingly positive remarks from market. This is because TradeData.Pro has wide coverage, low cost, and fast response. There are many leading companies from different industries that have subscribed to TradeData.Pro.

TradeData.Pro was awarded with Singapore Quality Class in 2020 and Stevie Award Gold in 2021. Businesses need information to reveal trends, identify market opportunities, track competitors buyers and suppliers, and better understand supply chain potential.

Finding these critical data has traditionally been challenging. But this information do exist, but as part of government import and export filing requirement. The detailed shipment information which are within these filings constructions the core of the global trade.

TradeData.Pro has gathered and packaged these information as business intelligence. Our solution helps companies understand the flow of goods across borders and features the world’s largest searchable trade database. We do the heavy lifting for you by reviewing, standardising, and cleaning data, then delivering in an intuitive format.

Vietnam has been the hottest industry lately, to stay updated on Vietnam, you can view all these information on Vietnam in here on our platform: https://data.cic-tp.com/asia-trade-data/vietnam-import-export-data

Find the exact product you are interested in here at https://tradedata.pro/trade-database-demo/
To find out more about accessing a new market, you can check out this article which shows you how to use Trade Data Pro to access Global Trade Markets: https://blog.tradedata.pro/say-hello-to-our-new-release-of-tradedata-pro/

Leave a Reply

Your email address will not be published. Required fields are marked *