The banana export volume in Vietnam significantly increased from 12.0 thousand metric tons in 2014 to 168.0 thousand metric tons in 2023. The growth was especially marked between 2016 and 2018, with the volume rising from 33.0 to 148.0 thousand metric tons, driven by robust market demand and enhanced agricultural practices. The year-on-year growth rate stabilized in recent years, maintaining an average of around 6% from 2020 to 2023. The Compound Annual Growth Rate (CAGR) over the last five years stood at 2.57%, reflecting a steady upward trend.
Future trends to watch for include technological advancements in agriculture, potential entry into new markets, and changes in global trade policies. The forecasted CAGR of 3.77% for the next five years suggests continued growth, with an estimated 20.34% increase in export volume by 2028.
