Vietnam earned more than US$53 billion from agricultural, forestry, and fishery exports in 2022, up over 9 percent year on year, forming a basis for a higher target in 2023, the Ministry of Agriculture and Rural Development reported.
The ministry released its statistics on the agricultural industry’s performance in 2022, as well as revealed its targets for 2023, at a conference held in Hanoi last Friday, which was attended by Prime Minister Pham Minh Chinh.
Specifically, the country boasted a total export turnover of $53.22 billion last year, 9.3 percent higher than 2021 and 6.44 percent more than the government’s target, Minister of Agriculture and Rural Development Le Minh Hoan said.
Such export earnings helped the country register a trade surplus of over $8.5 billion, up 30 percent from 2021 and accounting for more than 75 percent of the country’s total positive trade balance, the minister said.
Total export turnover for the year included $22.59 billion from main farm produce (up 4.8 percent), $16.93 billion from major forestry products (up 6.1 percent), $10.92 billion from fishery-related goods (up 22.9 percent), $400 million from husbandry (down 7.1 percent), and the remainder from other goods, according to the ministry.
Source: Vietnam Plus
Along with its export success, the sector chalked up a GDP growth rate of 3.36 percent last year, the highest it has seen in several years, contributing 5.11 percent to the total added value for the whole economy.
The brightest point for Vietnam’s agriculture industry last year was its great efforts in diversifying markets, improving quality, and creating brands of agricultural products, as suggested by the prime minister, Minister Hoan said.
In addition, many ministries, business associations, local authorities, enterprises, and farmers across the country have partnered to introduce and promote agricultural commodities both at home and abroad, Hoan added.
For 2023, the sector targeted GDP growth of three percent, and a total agro-forestry-fishery export value of $54 billion, the minister told the conference.
In order to meet these targets, the sector should strengthen the building of product brands, and diversify products, markets, and supply chains, while boosting circular economy, green transition, and digital transformation, Hoan advised.
He also called for attention to be given to the domestic market, the removal of barriers to new markets, and making the best use of free trade agreements, especially the EU - Vietnam Free Trade Agreement (EVFTA) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
(Tuoi Tre News)
Read more: Rice Industry Report
Seafood Industry Report - December 2022
Agricultural Products Industry Report - November 2022