Strong increase
According to statistics compiled by the Ministry of Agriculture and Rural Development, in the first 8 months of the year, the total export turnover of agricultural, forestry and fishery products reached 40.08 billion USD, while imports reached 28.28 billion USD. Thus, the trade surplus of the agricultural sector was 11.8 billion USD, an increase of 68.4%.
Notably, the export turnover of key products was higher than the same period last year. Some products even achieved an increase of over 30%. Typical examples include: Coffee 4.03 billion USD (up 36.1%), vegetables and fruits 4.63 billion USD (up 30.6%).
Following were rice reaching 3.85 billion USD (up 21.7%), cashew nuts reaching 2.77 billion USD (up 21.7%), wood and wood products reaching 10.24 billion USD (up 20.6%), shrimp reaching 2.41 billion USD (up 9.5%), tra fish reaching 1.2 billion USD (up 8.2%)...
The US becomes the largest export market
In the 8 months, export value to all markets increased; of which export value to Asia was 19 billion USD (up 15.7%), America 9.3 billion USD (up 22.3%), Europe 4.8 billion USD (up 30.5%), Africa 747 million USD (up 5.5%) and Oceania 563 million USD (up 12.8%).
Notably, the US has become the largest export market for Vietnamese agricultural, forestry and fishery products, with 8.58 billion USD, accounting for 21.4%.
Meanwhile, China is the second largest market, with 8.17 billion USD, accounting for 20.4%. Following that, Japan is the third largest market, with a turnover of 2.68 billion USD, accounting for 6.7%.
In addition to large, key markets such as China, the US, Japan, and the EU, the agricultural sector is also actively cooperating with businesses to open new markets with great potential such as Halal Muslim countries, the Middle East, and Africa.
Positive outlook for year end
In the last months of the year, agricultural products have many great opportunities to enter the export acceleration cycle, soon reaching the annual export target.
Currently, the seafood industry has accelerated with trade promotion solutions to soon reach the 10 billion USD mark this year.
Besides seafood, it is expected that from now until the end of the year, four groups of goods, namely rice, cashew nuts, coffee and vegetables, will have the opportunity to increase their exports. The average export price of Vietnamese coffee reached 3,683 USD/ton, an impressive increase of 52% compared to the same period last year.
The recent successful signing of the Protocol for fresh coconuts and frozen durians to the Chinese market is considered a big boost to help the fruit and vegetable industry achieve the strongest growth rate.
