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Vietnam fetches over $38bn in agro-forestry-fishery exports in Jan-Sep

Vietnam fetches over $38bn in agro-forestry-fishery exports in Jan-Sep

Saturday, September 30, 2023, 08:44 GMT+7
Vietnam fetches over $38bn in agro-forestry-fishery exports in Jan-Sep
Vietnamese workers clean durians before packaging them for export. Photo: T.Vy / Tuoi Tre

Vietnam's agro-forestry-fishery exports generated $38.48 billion revenue in January-September, down 5.1 percent year on year, according to the Ministry of Agriculture and Rural Development.

Agricultural exports accounted for over half of the total, at $19.54 billion, up 17 percent year on year.

Key export earners were vegetables and fruits ($4.2 billion), rice ($3.66 billion), cashew nuts ($2.61 billion), and coffee ($3.16 billion).

The average rice export price reached $553 per metric ton during the nine-month period, rising 14 percent. The price of coffee exports also picked up 10 percent to hit nearly $2,500 per metric ton.

Asia was the major importer of Vietnam’s agro-forestry-fishery exports with $18.71 billion worth of products in January-September. It was followed by America with $8.73 billion and Europe with $4.17 billion.

China, the U.S., and Japan remained the top three import markets of Vietnam’s agro-forestry-fishery products with exports to China accounting for 22.1 percent; that to the U.S., 20.7 percent; and that to Japan, 7.6 percent.

In September alone, the export revenue of agro-forestry-fishery products reached $4.8 billion, down 2.7 percent month on month but up 22 percent over the year-ago period.

Wood and seafood exports in September reached their highest levels for this year despite plunging over the same month last year.

Seafood exports to many markets this month reached the highest levels for this year, proving that the sector has been regaining the growth momentum and might obtain better results in the last months of the year, according to the Vietnam Association of Seafood Exporters and Processors (VASEP).

With positive results from the U.S. and Chinese markets, tra fish (pangasius) and shrimp exports are expected to improve in the coming months.

In particular, Vietnam hopes to earn $1.8-1.9 billion from tra fish exports and $3.6 billion from shrimp exports this year.

The Southeast Asian nation’s total fishery exports was projected to hit $9.1-9.2 billion this year, VASEP informed.

In order to achieve the agro-forestry-fishery export target of $54-55 billion this year, the Ministry of Agriculture and Rural Development said it would continue removing import market-related obstacles to pave the way for exports, especially barriers in the Chinese, EU, and U.S. markets.

The sector will also take advantage of free trade agreements, especially the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the EU-Vietnam Free Trade Agreement (EVFTA), to boost key agro-forestry-fishery exports and support local enterprises in securing new orders.

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Thanh Ha - Chi Tue / Tuoi Tre News


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