Hanoi (VNA) – Vietnam has recorded 11.8 billion USD in agro-forestry-fisheries trade surplus over the first eight months of 2024, surging 68.4% year on year, reported the Ministry of Agriculture and Rural Development (MARD).
Meanwhile, exports of these commodities brought home about 40.08 billion USD during the period, rising 18.6% from a year earlier. That included some 5.55 billion USD in August, up 12.3%.
The MARD attributed the eight-month result to export increases across the scope of trade items. In particular, revenue from farm produce grew 24% to 21.32 billion USD, forestry products 19.7% to 10.97 billion USD, fishery products 7.6% to 6.23 billion USD, and animal products 0.3% to 324 million USD.
Some commodities posting high export turnover are timber and wood products 10.24 billion USD, up 20.6%; coffee 4.03 billion USD, up 36.1%; rice nearly 3.85 billion USD, up 21.7%; fruits and vegetables 4.63 billion USD, up 30.6%; shrimp 2.4 billion USD, up 9.5%; and tra fish 1.19 billion USD, up 8.2%.
The US, China, and Japan remain the three largest importers of agro-forestry-fisheries products from Vietnam. Particularly, exports to the US have risen 23.5%, China 10.2%, and Japan 4.6%, statistics show.
MARD Deputy Minister Phung Duc Tien said that aside from major and key markets like China, the US, Japan, and the EU, the agricultural sector is actively coordinating with businesses to explore new and potential markets such as the Islamic, Middle Eastern, and African countries.
Notably, he added, it is assisting companies to make use of free trade agreements, especially the Comprehensive and Progressive Agreement for the Trans-Pacific Partnership (CPTPP) and the EU - Vietnam Free Trade Agreement (EVFTA), to boost exports.
Recently, the MARD and the General Administration of Customs China officially signed three important protocols, paving the way for exporting fresh coconut, frozen durian, and crocodile to China, expected to substantially contribute to general exports in the coming time./.
RoK burgeoning market for Vietnam’s agro-forestry-fisheries exports
Vietnam’s agro-forestry-fishery exports to the Republic of Korea (RoK) have surged thanks to the bilateral Free Trade Agreement (VKFTA), topping 2 billion USD annually during 2016 - 2023, and the Northeast Asian country is forecast to remain an attractive market in the coming time.
