Agro-forestry-fishery exports in 11 months outpace last year’s record

Agro-forestry-fishery exports stood at about US$49.04 billion in the first 11 months of 2022, higher than last year’s record of US$48.6 billion, the Ministry of Agriculture and Rural Development (MARD) said.

The 11-month export rose 11.8% year on year while imports increased 6.9% to some US$41.22 billion, resulting in a surplus of US$7.82 billion– up 47.8%.

That made up a total trade of US$90.26 billion, rising 9.5% year on year, statistics show.

Between January and November, key agricultural products brought home more than US$20.73 billion, up 6.6%; main forestry products US$15.59 billion, up 8.2%; fishery products US$10.14 billion, up 27%; and animal farming US$361.4 million, down 8.4%.

So far, the agricultural sector has seen eight products and groups of products with export value of over US$2 billion each, namely coffee, rubber, rice, vegetables and fruit, cashew nut, shrimp, tra fish, and wood products.

Hung Hau Pangasius Fillet

Asian markets accounted for 44.7% of Vietnam’s total exports, Americas 27.4%, Europe 11.3%, Oceania 1.7%, and Africa 1.7%.

The US remains the biggest buyer of Vietnamese goods, with US$12.3 billion, making up 25% of total shipments. It is followed by China (US$9.3 billion, 18.9%) and Japan (US$3.9 billion, 7.9%).

The MARD said agro-forestry-fishery imports are estimated at over US$41.22 billion during 11 months, increasing 6.9% from a year earlier.

That includes more than US$25.21 billion worth of key farm produce, up 3.9%; US$2.5 billion of fishery products, up 39.7%; US$2.89 billion of forestry products, up 4%; and over US$3 billion of animal products, down 3.2%.