Agro-forestry-fisheries exports exceed US$33 billion in 10 months
Agro-forestry-fisheries exports exceed US$33 billion in 10 months
The country’s cumulative agro-forestry-fishery export revenue has hit US$33.18 billion in the year to date, up 1.6% year-on-year, according to the Ministry of Agriculture and Rural Development.
Meanwhile, the import bill from these products has declined a slight 0.5% at US$25.9 billion. Thus, the sector enjoyed a trade surplus worth US$7.3 billion, US$664 million higher than that in the same period last year, Vietnamplus news site reported.
The main forestry exports has maintained their high growth momentum with US$9.04 billion, up 18.8% year-on-year and accounting for 27.2% of the total agro-forestry-fishery export revenue.
Meanwhile, the value of seafood exports has dropped 2.4% to US$7.06 billion, representing 21.3% of total revenue. The main agricultural products have reported a decline of 7.4% in export turnover at US$15.25 billion, making up 46% of the total revenue.
Some farm produce, such as cashew nuts, pepper and rice, have enjoyed higher export volumes than the same period last year, but the lower export prices has reduced the export value. However, both the coffee export volume and value have dropped 14.6% and 22.3%, respectively.
In January-October, the country has exported US$2.3 billion worth of vegetables and fruits, down 1.3%. The decline is attributed to China’s stricter requirements on food safety and packaging.
China has remained Vietnam’s largest buyer of farm produce, accounting for 26.8% of the total farm produce export revenue, followed by the United States with 21.7%, the European Union with 11.9% and the ASEAN with 10.3%.
The Ministry of Agriculture and Rural Development will keep a close watch on the demand for farm produce from neighboring China and will assess the impact of China’s policies on Vietnam’s farm exports.
Further, trade promotion programs will be held in China, India, the Netherlands and Russia in the coming years.
In addition to coordinating with other relevant ministries and agencies to seek ways to expand the markets for local products, the ministry will take advantage of opportunities ushered in by free trade agreements that Vietnam is a party to.
