Vietnam's Agricultural Export Competitiveness in the Global Market: A Panel Data Analysis
DOI:
https://doi.org/10.71222/93q23631Keywords:
Vietnam, agricultural exports, competitiveness, panel data analysis, revealed comparative advantage indexAbstract
This paper presents an in-depth analysis of the competitiveness of Vietnam's agricultural exports in the global market using panel data analysis over the period from 2010 to 2023. The research integrates various economic indicators, such as export volume, value, and production data, both from Vietnam and its key trading partners. The core of the analysis involves the application of two key indices—the Revealed Comparative Advantage (RCA) Index and the Trade Specialization Coefficient (TSC)—to evaluate Vietnam's relative standing in agricultural exports. The results of the study reveal that Vietnam maintains a competitive edge in certain agricultural products, most notably rice, coffee, and cashew nuts. These sectors have historically contributed significantly to the country's agricultural export growth. However, despite these strengths, the study highlights several persistent challenges. These include concerns over the consistency and quality of agricultural products, which hinder Vietnam's ability to access high-value markets. Additionally, Vietnam faces growing competition from other emerging agricultural exporters, particularly in regions such as South America and Africa, which have gained prominence in key agricultural export categories. The study also underscores the importance of factors such as market diversification, technological innovation, and sustainable farming practices in improving competitiveness. The research suggests that Vietnam's agricultural sector must transition from a reliance on traditional export products to incorporating more diversified, high-quality products that meet the standards of global markets. Furthermore, addressing logistical inefficiencies and investing in infrastructure are essential steps to reduce export costs and increase market reach. In light of these findings, the paper proposes several targeted policy recommendations to enhance Vietnam's agricultural export competitiveness. These include promoting research and development in agricultural technologies, strengthening international trade agreements, supporting smallholder farmers in improving their production techniques, and enhancing brand recognition for Vietnamese agricultural products. Additionally, fostering collaboration between the government, private sector, and educational institutions will be crucial in creating a more resilient agricultural export framework. These efforts will not only strengthen Vietnam's position in the global agricultural market but also contribute to the country's long-term economic development.
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