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Vietnam: high trade surplus of agricultural products, with a value exceeding 53 billion USD

The agricultural sector’s trade surplus in 2022 is estimated to reach US$8.5 billion, improving 30% against the year-ago figure, according to statistics from the Ministry of Agriculture and Rural Development.

Vietnam saw a 9.3% year-on-year increase in agricultural exports in 2022, at over US$53 billion.

Source: Vietnam Plus

Of the overall figure, shipments of agro products generated over US$22.5 billion, up 4.8% year-over-year. The export revenue of forestry and fishery items rose 6.1% and 22.9% at US$16.9 billion and US$10.9 billion, respectively. Meanwhile, exports of husbandry products accounted for US$400 million, down 7.1% versus last year.

This year witnessed 11 groups of products in the field earning over US$1 billion in export revenue each. Of them, eight groups reaped over US$2 billion each, such as coffee, rubber, rice, vegetables, and cashew nuts.

Besides, the production value of the agricultural sector inched up 3.3% compared to last year.

The positive results can be attributed to the Ministry of Agriculture and Rural Development working closely with the Ministry of Industry and Trade to jointly implement trade promotion policies and negotiations, cope with the impact of the Covid-19 pandemic and the Russia-Ukraine military conflict, as well as study and make the most of free trade agreements to bolster agro exports.

In addition, the Ministry has coordinated with the Ministry of Industry and Trade, Embassies, Trade Counselors, and Agricultural Counselors of Vietnam in other countries to build channels for exchanging information, providing information on export markets, and promoting promotion. promoting, promoting in the form of online products that have been opened, officially exported to markets associated with the diplomatic activities of the Government and the ministry into major markets such as China, The United States, Europe, Russia, and Brazil and effectively exploit potential markets such as Japan - Korea, ASEAN, Australia - New Zealand, Middle East...

The Ministry of Agriculture Rural Development 2022 completed negotiations and procedures to ship Vietnamese mangoes and chicken to South Korea, pomelos and limes to New Zealand, and honey to the EU, among others.

(Saigon Times)

Seafood Industry Report - December 2022


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