Vietnam’s agricultural exports hit record high in 2024
Vietnam’s agricultural exports hit record high in 2024
Vietnam’s export value from agro-forestry and aquatic products has reached a record high of US$62.5 billion in 2024, rising 18.7 percent against last year and racking up a trade surplus of $17.9 billion, according to the Ministry of Agriculture and Rural Development.
Workers process aloe vera for export to the Middle East at a factory of GC Food Company based in Ho Chi Minh City. Photo: V. A. Minh / Tuoi Tre |
These figures were released at a conference held in Hanoi on Friday to review the performance of the agricultural sector in 2024 and discuss tasks for 2025, with the attendance of Prime Minister Pham Minh Chinh and officials from the ministry and other agencies.
Among the total export value, key agricultural products accounted for $32.8 billion (up 22.4 percent from 2023), forestry products $17.28 billion (up 19.4 percent), aquatic products $10.07 billion (up 12.2 percent), and livestock products $533.6 million (up 6.5 percent).
This year has seen seven product groups bring about export turnover over $3 billion, including timber and wooden products ($16.2 billion), fruits and vegetables ($7.12 billion), rice ($5.75 billion), and coffee ($5.48 billion), among others.
With a total export turnover of $62.5 billion for 2024, the sector has registered a trade surplus that hit a new record of $17.9 billion, a 46.8 percent year-on-year growth, according to the Vietnam News Agency.
However, It is forecasted that the agricultural sector may face new difficulties in 2025 due to global economic fluctuations, U.S.-China trade tensions, and Vietnam’s high trade surplus with the U.S., said Nguyen Thanh Binh, chairman of Vietnam Fruit and Vegetable Association.
Addressing the conference, PM Chinh asked the ministry to adopt five solutions, including building strong brands for Vietnamese agricultural products, developing raw material areas, expanding export markets, improving geographical indications and product packaging, and giving financial support for farmers.
He also urged drastic measures speeding up the European Commission’s removal of the illegal, unreported and unregulated (IUU) fishing ‘yellow card’ warning imposed on Vietnamese seafood since 2017.
Regarding market development strategy, the PM called for efforts to make the best use of free trade agreements to expand and diversify export markets and reduce dependence on some traditional markets.
