Agro-forestry-fishery trade surplus jumps over 62% in 10 months
The agricultural, forestry, and fishery trade surplus reached 15.21 billion USD in the first 10 months, up 62.2% compared to the same period last year, the Ministry of Agriculture and Rural Development has reported.
The farm produce enjoys a trade surplus of 4.6 billion USD in the last 10 months, up 4.2 times year-on-year. (Photo: VietnamPlus)
Hanoi (VNA) – 🌄The agricultural, forestry, and fishery trade surplus reached 15.21 billion USD in the first 10 months, up 62.2% compared to the same period last year, the Ministry of Agriculture and Rural Development has reported.
According to the ministry, the forestry, fishery and agricultural industries have recorded respective trade surplus of 11.75 billion USD, 6.21 billion USD, and 4.67 billion USD, up 18.8%, 17.2% and 4.4 times, respectively, from the same period last year.
Meanwhile, the three groups of inputs for production, livestock products, and salt witnessed trade deficits of 4.75 billion USD, 2.64 billion USD and 24.6 million USD in the period.
The sector’s total export revenue amounted to 51.74 billion USD, an annual increase of 20.2%.
Photo: The export value of aquatic products in 10 months hits 8.33 billion USD, marking a 12% increase. (Photo: VNA)
Of the sum, agricultural exports contributed the most with 27.38 billion USD, up 25.6% year-on-year; livestock products earned 423.5 million USD, a 2.7% rise; fishery and forestry export turnovers grew by 12% and 19.9% to stand at 8.33 billion USD and 4.05 billion USD, respectively; and salt exports brought in 4.6 million USD, a slight decline of 0.2%.
Currently, six agricultural goods maintain trade surpluses exceeding 1 billion USD. They are wood and woodwork products with a surplus of 10.91 billion USD, fruits and vegetables with 4.47 billion USD, coffee with 4.33 billion USD, rice with 3.68 billion USD, shrimp with 2.92 billion USD, and Tra fish with 1.54 billion USD.
By region and territory, Asia was the biggest importer of Vietnamese agro-forestry-aquaculture products, accounting for 48.2% of the market share. The Americas and Europe remain the second and third largest buyers of the products, with market shares of 23.5% and 11.5%, respectively. Africa and Oceania have smaller shares, ranging from 1.4% to 1.8%.
Vietnam's export value of these items increased by 17.2% in Asia, 24.7% in the Americas, 34.1% in Europe, 2% in Africa, and 14.5% in Oceania, respectively, compared to the first ten months of 2023.
The US was Vietnam’s largest market, occupying a 21.6% share, followed closely by China at 21.5%, and Japan at 6.5%. Compared to last year, Vietnamese agro-forestry-fishery exports to the three markets were 25.9%, 11.4%, and 5.9% higher, respectively.
In the ten-month period, the sector imports worth 36.53 billion USD, a year-on-year growth of 8.5%.
The country spent 22.71 billion USD, 3.06 billion USD, and 2.31 billion USD on importing respectively agricultural, livestock, and forestry products, up 9.8%, 6.6%, and 25.4% year-on-year.
Vietnam imports the most agricultural, forestry, and aquatic products from markets in Asia and the Americas, with shares of 28.8% and 24.1%, respectively. Compared to the same period last year, the import value from Asia, the Americas and Europe rose by 11.1%, 11.4%, and 31.9%, respectively. Meanwhile, imports from Oceania and Africa decreased by 35.5% and 6.5%.
China, Brazil, and the US are the three largest suppliers of agricultural, forestry, and aquatic products for Vietnam, with market shares of 9.6%, 8.0%, and 7.7%, respectively. The country’s import value of these items in the reviewed period from the three markets increased by 28.3%, 8%, and 5.8%./.
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