The import-export revenue of agro-forestry-fisheries products in the first quarter of this year was estimated at US$20.63 billion, down 11.2% year on year, according to the Ministry of Agriculture and Rural Development.
Of the total, export value reached about US$11.19 billion, down 14.4%. Imports were US$9.44 billion, a fall of 7.2% year on year, resulting in a trade surplus of US$1.76 billion, a drop of 39.6% year on year.
An upturn was recorded in the revenue of agricultural products (3.8%), and livestock (46.5%), while a downturn was seen in the export of forestry products (28.3%), and fisheries products (29.0%). The fall was mostly due to the decrease in product price.
Products that enjoyed strong growth in exports include rice (30.2%), fruits and vegetable (14.2%), and milk and dairy products (22.2%).
In the period, major export markets of Vietnamese agro-forestry-fisheries products were Asia with 48.8% of the market share, America with 20.3%, Europe with 12.8%, Oceania with 1.4%, and Africa at 1.2%.
Specifically, China remained the largest market of Vietnam with a consumption value of US$2.4 billion, followed by the US with US$2.04 billion, and Japan with US$936 million.
The ministry reported that the export revenue of the products in March is estimated at US$4.66 billion, representing a rise of 27% over February but a fall of 6.5% year on year. Agricultural products contributed US$2.42 billion to the figure, forestry products US$1.29 billion, fisheries US$720 million, and livestock US$115 million.
To facilitate the trade of the products, the MARD plans to focus on removing difficulties and obstacles in trading activities and reducing the negative impact of the COVID-19 pandemic and the developments in domestic and world markets.
The ministry will assist exporters in optimising the incentives offered by trade deals, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the EU-Vietnam Free Trade Agreement (EVFTA) to strengthen exports of agro-forestry-fisheries products. It is preparing for the organisation of a conference of northern border provinces on farm produce trade with China, and participation in trade promotion events in the UK.
Read more: Agricultural Products Industry Report