Vietnam's motorbike sales fell the third straight quarter by 3.8 percent to 831,500 units in Q3.
Even weaker economies with less developed industries can threaten Vietnam's auto industry due to its low localization rate, the Trade Ministry said.
Experts believe Viet Nam needs a long-term strategy to increase the quality of its rice exports to create sustainable growth in the future.
Given the high sales of members of the Vietnam Automobile Manufacturers Association (VAMA) and TC Motor, reaching 32,000 units per month between January and September, the local automobile market is forecast to set a new record in sales this year.
As soon as this year’s coffee crop had come to a close, both coffee growers and traders discussed lessons learnt from what they considered a poor harvest which kept them on tenterhooks till the last days. Now that the new crop began on the first of October, they have to answer the question as to what should be done for a better life.
The Viet Nam Association of Seafood Exporters and Producers (VASEP) said exports increased by 30 per cent to US$51.4 million in August.
Viet Nam's automobile market is expected to set a new sales record this year with sales of the Vietnam Automobile Manufacturer Association (VAMA) members and TC Motors averaging nearly 32,000 cars each month in January-September.
The export of phones and parts during the year up to September hit an estimated US$38.6 billion, the highest among five product groups whose export value exceeded US$10 billion each, according to the Ministry of Industry and Trade.
Alcohol and beer consumption is booming, and local beverage producers are cashing in.
The strong demand in China for pigs, due to its year-long struggle against African swine fever, has caused local pig prices to surge over the past week. However, the local market is also facing a pig undersupply.