Agricultural trade surplus hits US$4.5 billion
(VOV) - Agro-forestry-fishery exports jumped up 12.7% to US$14.88 billion in the first six months of the year, the Ministry of Agriculture and Rural Development (MARD) reported on June 27.
Of the figure, exports of key agricultural products are estimated at US$7.17 billion (up 6.9%), aquaculture at US$3.57 billion (up 28.6%) and forestry products at US$2.93 billion (up 12%).
Overall the sector enjoyed a trade surplus in the first half of the year of US$4.5 billion.
In the reviewed period, the combined production value in the sector also rose by 3.4%, signaling agricultural growth has improved significantly, MARD reports.
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Since May, due to tensions in the East Sea, the exchange of some agricultural products between Vietnam and China has faced difficulties and exports have seen a significant decline.
Agriculture and Rural Development Deputy Minister Ha Cong Tuan said some Vietnamese agricultural products are overly dependent on the Chinese market, primarily citing rice and rubber, which China imports 40% of total export volume.
Additionally, 80-90% of dragon fruit and cassava are shipped to China, he said.
To cope with the issue, the ministry has directed relevant agencies to devise measures to diversify and grasp market information for market expansion.