The import value of coffee to Vietnam, expressed in million US dollars, has demonstrated varied trends from 2013 to 2023. The historical data shows both significant growth and declines, with a notable high in 2017 and steady increases observed from 2020 onwards. As of 2023, the import value stood at 110.1 million USD. Year-on-year variations in the past have ranged from a decrease of -40.66% in 2015 to an increase of 87.46% in 2017. The compound annual growth rate (CAGR) for the past five years indicates an average yearly growth rate of approximately 5.44%.
Looking ahead, forecasts for the next five years suggest a moderate increase in import values, with a projected CAGR of 3.03% leading to an estimated import value of 133.33 million USD by 2028, marking an overall growth rate of 16.09% from 2023 to 2028. These projections signal stable, albeit slower, growth in the near future compared to previous levels.
Future trends to watch for:
- Global coffee price fluctuations and their impact on Vietnam's import values.
- Changes in domestic coffee consumption patterns and preferences.
- Potential trade policy adjustments affecting import dynamics.
- Economic factors, such as inflation and currency exchange rates, influencing import expenditure.