Agro-forestry-aquatic product exports post trade surplus of nearly US$6 billion
Vietnam’s agro-forestry-aquatic product exports raked in US$29.13 billion in the first seven months of 2023, while its imports reached US$23.25 billion, resulting in a trade surplus of US$5.88 billion, up 3.4% year-on-year, the Ministry of Agriculture and Rural Development (MARD) reported.
The export and import values in the seven-month period went down 9.1% and 11.8%, respectively, from the same period last year, the ministry said.
In July alone, the country earned US$4.62 billion from agro-forestry-aquatic product exports, a year-on-year rise of 5.3%.
Between January and July, the export revenue of aquatic products declined to US$4.95 billion, a drop of 25.4%, and that of forestry products dropped 25.5% to US$7.79 billion.
Notably, agricultural product exports brought home nearly US$14.99 billion, up 13.2%, mainly thanks to vegetables and fruits, rice, cashew nuts, coffee and animal husbandry products, according to the ministry.
However, some major agricultural products saw decreases in exports like rubber, tea, pepper, cassava and cassava products.
In the seven months, the agro-forestry-aquatic product export values to Asia and Africa increased 2.3% and 14.1% to reach US$14.06 billion and US$573 million, respectively. Meanwhile, the exports to America, Europe and Oceania fell 29.2%, 13.3% and 25.6%.
China, the US, and Japan remained three largest importers of Vietnam's agro-forestry-aquatic products, making up 21.9%, 20.4% and 7.6% of the total figure.
The ministry said it will continue pushing for domestic consumption and export, and focus on handling market-related issues to facilitate the export, especially to China, the US, the EU, and the Eurasian Economic Union.
The sector will also optimise free trade agreements to boost the shipment of key items, support businesses in seeking new orders, and coordinate in protecting brand names and geographical indications for potential products, it added.