Forecast: Vegetables Production in Vietnam

In 2023, vegetable production in Vietnam stood at 18.22 million metric tons, with a year-on-year increase of 0.87%. Looking at the past, significant fluctuations in growth were observed, notably a sharp rise in 2016 of 4.09% and a notable decline in 2020 by 4.1%. The compound annual growth rate (CAGR) over the last five years (2019-2023) averaged 0.64%, showing a modest growth trend with some variability.

Looking ahead, from 2024 onwards, the forecast predicts a steady increase in vegetable production, with a forecasted CAGR of 0.7% over the next five years, reaching 19.04 million metric tons by 2028. This reflects a cumulative growth rate of 3.54% by the end of the forecast period.

Future trends to watch for include potential impacts of climate change, technological advancements in agriculture, and shifts in domestic and international demand which can significantly influence production volumes and growth rates. Monitoring these factors will be pivotal to understanding the dynamics of Vietnam's vegetable production sector.