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Vietnam’s agro-forestry-fishery exports in 2022 grow 9.3% yoy

Vietnam’s agro-forestry-fishery exports in 2022 grow 9.3% yoy

Wednesday, January 18, 2023, 10:46 GMT+7
Vietnam’s agro-forestry-fishery exports in 2022 grow 9.3% yoy
Minister Pham Minh Chinh and other officials visit a display of organic farm produce on the sidelines of the conference on January 13, 2022. Photo: Chi Tue / Tuoi Tre

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.

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.

Prime Minister Pham Minh Chinh holds a handbag at an area displaying products made from bamboo and rattan on the sidelines of the conference on January 13, 2022 in this image Photo: Chi Tue / Tuoi Tre

Prime Minister Pham Minh Chinh holds a handbag at an area displaying products made from bamboo and rattan on the sidelines of the conference on January 13, 2022. Photo: Chi Tue / Tuoi Tre

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.

Speaking at the event, PM Chinh shared that he highly valued the sector’s significant contributions to the country’s common economic success in 2022, and asked the sector to strive for higher targets, including a GDP growth rate of 3.5 percent and export turnover of $55 billion, in 2023, according to the Vietnam News Agency.

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).

Before entering the conference, the PM and leaders of the Ministry of Agriculture and Rural Development visited the exhibition space from goods from the ‘One Commune One Product’ (OCOP) and diverse products of craft villages.

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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.

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.

Prime Minister Pham Minh Chinh holds a handbag at an area displaying products made from bamboo and rattan on the sidelines of the conference on January 13, 2022 in this image Photo: Chi Tue / Tuoi Tre

Prime Minister Pham Minh Chinh holds a handbag at an area displaying products made from bamboo and rattan on the sidelines of the conference on January 13, 2022. Photo: Chi Tue / Tuoi Tre

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.

Speaking at the event, PM Chinh shared that he highly valued the sector’s significant contributions to the country’s common economic success in 2022, and asked the sector to strive for higher targets, including a GDP growth rate of 3.5 percent and export turnover of $55 billion, in 2023, according to the Vietnam News Agency.

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).

Before entering the conference, the PM and leaders of the Ministry of Agriculture and Rural Development visited the exhibition space from goods from the ‘One Commune One Product’ (OCOP) and diverse products of craft villages.

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Vinh Tho - Chi Tue / Tuoi Tre News

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