Agricultural sector’s trade surplus approximates US$16.5 billion
Vietnam recorded a trade surplus of US$16.46 billion in agricultural, forestry, and aquatic products during the first 11 months of 2024, soaring 52.8% year on year, reported the Ministry of Agriculture and Rural Development.
Deputy Minister Phung Duc Tien said these commodities brought home about US$5.3 billion in export value in November, up 13.9% from the same period last year. That contributed to the 11-month revenue of US$56.74 billion, representing a year-on-year increase of 19%.
During January-November, forestry products posted a surplus of US$13.05 billion, aquatic products US$6.88 billion, and agricultural ones US$4.72 billion, respectively rising 18.7%, 17.5% and 3.1 times year-on-year.
Seven groups of products enjoyed a trade surplus of over US$1 billion. Among them, timber and wood products saw US$12.11 billion in surplus, up 19.4% from a year earlier; fruits and vegetables US$4.56 billion, up 33.9%; coffee US$4.53 billion, up 30.5%; rice US$4.07 billion, up 14.6%; shrimp US$3.19 billion, up 20.5%; tra fish US$1.72 billion, up 10.1%; and peppercorn US$1.07 billion, up 43.5%.
Over the 11 months, farm produce generated US$29.78 billion from overseas shipments, growing 23.2% year on year. Meanwhile, exports of livestock, aquatic, and forestry products respectively increased 4.4%, 11.8%, and 19.6% to reach US$475.5 million, US$9.2 billion, and US$15.59 billion, statistics show.
Tien said Asia was the largest market of agricultural, forestry, and aquatic products from Vietnam, accounting for 48.2% of total exports during the period. It was followed by the Americas with 23.7% and Europe with 11.3%.
Shipments to Asia, the Americas, Europe, Africa, and the Oceania respectively went up 16.1%, 23.6%, 30.4%, 4.4%, and 13.9%.
The US, China, and Japan were the top three destinations of the Vietnamese products as they imported 21.7%, 21.6%, and 6.6% of the total. Exports to these markets climbed 24.6%, 11%, and 5.5%, respectively, against the same period of 2023, according to the ministry.
