Vietnam's Agro-forestry-fishery surplus jumps 62% in 10 months
- duyenthu.vietdata
- Nov 1, 2024
- 2 min read
The agro – forestry – fishery sector posts a trade surplus of US$15.21 billion in the first 10 months of this year, representing a rise of 62.2% over the same period last year, according to the latest updates of the Ministry of Agriculture and Rural Development.
Statistics showed that Việt Nam earned revenue of $5.91 billion from agro-forestry-fishery exports in October, bringing the total export revenue in the ten months to $51.74 billion, an year-on-year increase of 20.2%.
Specifically, exports of agricultural products totaled $27.38 billion in the period, up 25.6%, husbandry products $423.5 million, up 2.7%, fishery products $8.33 billion, up 12%, forestry products $14.05 billion, up 19.9% and salt $4.6 million, a drop of 0.2%.
Asia is the largest export market of Việt Nam’s agro-forestry-fishery products which holds a share of 48.2%, followed by American and European markets with shares of 23.5% and 11.5%, respectively. Exports to Africa and Oceania remained modest with shares of 1.8% and 1.4%, respectively.
In the period, exports to Asia rose by 17.2%, America by 24.7% and Europe by 34.1%.
The US is the largest export market of Việt Nam, accounting for 21.6% of Việt Nam’s agro-forestry-fishery exports. China came second with 21.5%, followed by Japan with 6.5%. Exports to the US rose by 25.9%, China by 11.4%, and Japan by 5.9% in the period.
The country imported $36.53 billion worth of agro-forestry-fishery products in the period, up 8.5%.
China, Brazil, and the US are the largest suppliers of agro-forestry-fishery products to Việt Nam in the period with shares of 9.6%, 8%, and 7.7%, respectively.
The import of agro-forestry-fishery products from China rose by 28.3% in the period, Brazil by 8% and the US by 5.8%.
Deputy Minister of Agriculture and Rural Development Phùng Đức Tiến said that if the current growth rate is maintained, Việt Nam’s agro-forestry-fishery exports are expected to reach $60-61 billion this year.
(vietnamnews.vn)
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