Vietnam Rice Competitiveness in the International Trade Market in Recent Years, Opportunities and New Challenges for Vietnam Rice Export ()
ABSTRACT
Vietnam is a top agricultural nation. Agriculture
makes up 24% of GDP, 20% of exports, and 70% of employment. The agricultural
industry is vital to the country’s economy, especially rice farming, which
accounts for 30% of the total output. Currently, rice is the main food consumed
by most Vietnamese citizens. Millions of tiny farmers make their living
producing rice. In the area of rice, Vietnam is regarded as a nation with a
very strong comparative advantage. Vietnam used to have a comparative advantage
over other major rice exporters like India, Thailand, and Pakistan. However, in
recent years, this advantage has decreased and is now less favorable than in
other nations. This is also regarded as a warning for the country’s rice
industry, which faces numerous difficulties and obstacles due to the process of
integrating the world and the rise of the COVID-19 pandemic. In addition to
figuring out opportunities and new challenges
in Vietnam’s rice export, by using the Revealed Comparative Advantage
Index (RCA), this study will analyze the international competitiveness of
Vietnam’s rice exports and assist the country in locating alternative rice
export markets. The research will also make some recommendations on how to
boost exports of the country’s rice while maintaining or even enhancing its
international competitiveness. Additionally, this article will use the Export
Competitive Advantage index (XCA) as a complement to the RCA index’s bias.
Share and Cite:
Nhung, P. and Wang, Z. (2022) Vietnam Rice Competitiveness in the International Trade Market in Recent Years, Opportunities and New Challenges for Vietnam Rice Export.
American Journal of Industrial and Business Management,
12, 1842-1866. doi:
10.4236/ajibm.2022.1212101.
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