Status of Vietnam’s Agriculture, Forestry and Aquatic Products Exports

· by · in

International Business News  –  According to statistics from Vietnam’s Ministry of Agriculture and Rural Development, in the first seven months of 2022, Vietnam’s exports of agriculture, forestry and aquatic products totaled about US$58.3 billion, a year-on-year increase of 7.2%.

Among them, the export value reached about 32.3 billion US dollars, a year-on-year increase of 12.2%; the import value reached about 26 billion US dollars, a year-on-year increase of 1.6%; the trade surplus was nearly 6.3 billion US dollars, an increase of nearly double the year-on-year.

In July, Vietnam’s exports of agricultural, forestry and aquatic products reached about US$4.8 billion, a year-on-year increase of 10.4%, but a month-on-month decrease of 2%. Among them, the export value of main agricultural products, forest products, aquatic products and livestock and poultry products reached nearly 2 billion US dollars, more than 1.4 billion US dollars, 965 million US dollars and 42.1 million US dollars.

In the first seven months, the export value of main agricultural products reached 11.3 billion US dollars, an increase of 8.4%; the export value of main forest products reached more than 10.4 billion US dollars, an increase of 1.3%; the export value of main aquatic products reached nearly 6.7 billion US dollars, an increase of 34.2%; poultry products amounted to approximately US$225.6 million, down 11.6%; raw materials for production were nearly US$1.7 billion, up 66.7%.

So far, Vietnam’s agricultural industry has exported four products worth more than US$2 billion, including coffee, rice, shrimp, and wood products.

Regarding the export market, in the first seven months, Vietnam’s exports to Asian countries accounted for 42.4% of the market share. This was followed by the Americas (29.3%), Europe (11.9%), Oceania (1.7%) and Africa (1.6%).

United States is still the largest export market of Vietnam’s agriculture, forestry and aquatic products, with an export value of nearly 8.7 billion US dollars, accounting for 26.8% of the total export value. China is Vietnam’s second largest export market for agriculture, forestry and aquatic products, with an export value of over US$5.7 billion, accounting for 17.8% of the total export value. Followed by Japan and South Korea.