Agro-forestry-aquatic product exports post trade surplus of nearly 6 billion USD

Vietnam’s agro-forestry-aquatic product exports raked in 29.13 billion USD in the first seven months of 2023, while its imports reached 23.25 billion USD, resulting in a trade surplus of 5.88 billion USD, up 3.4% year-on-year, the Ministry of Agriculture and Rural Development (MARD) reported.



Agro-forestry-aquatic product exports post trade surplus of nearly 6 billion USD

In July alone, the country earned 4.62 billion USD from agro-forestry-aquatic product exports, a year-on-year rise of 5.3%.

Between January and July, the export revenue of aquatic products declined to 4.95 billion USD, a drop of 25.4%, and that of forestry products dropped 25.5% to 7.79 billion USD. 

Notably, agricultural product exports brought home nearly 14.99 billion USD, up 13.2%, mainly thanks to vegetables and fruits, rice, cashew nuts, coffee and animal husbandry products, according to the ministry.

However, some major agricultural products saw decreases in exports like rubber, tea, pepper, cassava and cassava products.

In the seven months, the agro-forestry-aquatic product export values to Asia and Africa increased 2.3% and 14.1% to reach 14.06 billion USD and 573 million USD, respectively. Meanwhile, the exports to America, Europe and Oceania fell 29.2%, 13.3% and 25.6%.

 China, the US, and Japan remained three largest importers of Vietnam's agro-forestry-aquatic products, making up 21.9%, 20.4% and 7.6% of the total figure.

The ministry said it will continue pushing for domestic consumption and export, and focus on handling market-related issues to facilitate the export, especially to China, the US, the EU, and the Eurasian Economic Union.

The sector will also optimise free trade agreements to boost the shipment of key items, support businesses in seeking new orders, and coordinate in protecting brand names and geographical indications for potential products, it added.