Vietnamese cashew exports to Switzerland increases significantly during the last five years

Cashew imports to Switzerland continue to increase at a favorable pace between 2016 and 2020, with Vietnamese cashew imports of the country seeing a boom.

Vietnamese cashew exports to Switzerland increases significantly during the last five years. Photo: TL.

Switzerland's cashew imports increased by an average of 13.6 percent per year in volume and 12.9 percent per year in value between 2016 and 2020, from 1.9 thousand tons worth USD 18.98 million in 2016 to 3.12 thousand tons worth USD 28.24 million in 2020, according to the International Trade Center (ITC).

This means that Switzerland's cashew imports from Vietnam increased by an average of 20.4 percent in volume and 19.8 percent in value each year, from 742 tons worth USD 7 million in 2016 to approximately 1.500 tons worth USD 12.33 million in 2020.

Switzerland boosted its cashew imports from Vietnam, Ivory Coast, and Benin in the first half of 2021 while decreasing imports from India and the Netherlands.

Switzerland imported 777 tons of cashew nuts from Vietnam in January-June, valued at USD 6.52 million, increasing 40.4 percent in volume and 35.6 percent in value year on year.

Vietnam's cashew nut market share in total Swiss imports rose to 53.16 percent interannually from 38.58 percent in the first six months of 2020. As a result, Vietnam's cashew nut has a significant competitive edge in the Swiss market.