Trade surplus of agriculture, forestry and fishery products in 10 months increased by over 62%, estimated at 5.91 billion USD

DNVN - The Ministry of Agriculture and Rural Development has just announced that the export turnover of agricultural, forestry and fishery products in October 2024 is estimated at 5.91 billion USD.

Thus, the total export turnover of agricultural, forestry and fishery products in 10 months reached 51.74 billion USD, corresponding to an increase of 20.2% over the same period in 2023. The trade surplus value of agricultural, forestry and fishery products in 10 months reached 15.21 billion USD, an increase of 62.2% over the same period last year.

Of which, the export value of agricultural products recorded 27.38 billion USD, up 25.6%; livestock products reached 423.5 million USD, up 2.7%; aquatic products were worth 8.33 billion USD, up 12%; forestry products reached 14.05 billion USD, up 19.9%; salt only reached 4.6 million USD, down 0.2%.

Asia is currently the largest export market for Vietnam's agricultural, forestry and fishery products, accounting for 48.2% of the market share. This is followed by the Americas and Europe, with market shares of 23.5% and 11.5%, respectively. The two regions of Africa and Oceania have modest market shares, with 1.8% and 1.4%.

Compared to the same period last year, the export value of Vietnam's agricultural, forestry and fishery products in the first 10 months of 2024 to Asia increased by 17.2%; America increased by 24.7%; Europe increased by 34.1%; Africa increased by 2% and Oceania increased by 14.5%.

By market, the United States leads with a market share of 21.6%, followed by China with 21.5% and Japan with 6.5%. These are the three largest export markets for agricultural, forestry and fishery products of Vietnam. Compared to the same period last year, the export value of agricultural, forestry and fishery products to the United States increased by 25.9%, China increased by 11.4%, and Japan increased by 5.9%.

The Ministry of Agriculture and Rural Development said that the total import turnover of agricultural, forestry and fishery products in the first 10 months of 2024 reached 36.53 billion USD, an increase of 8.5% over the same period in 2023.

Thus, Vietnam's trade balance of agriculture, forestry and fishery products in the first 10 months is estimated to have a surplus of 15.21 billion USD, an increase of 62.2% over the same period last year.

By commodity group, forestry, fishery and agricultural products all had a trade surplus. Specifically, the forestry group is estimated to have a surplus of 11.75 billion USD, up 18.8% over the same period in 2023; the fishery group achieved a surplus of 6.21 billion USD, up 17.2%; and the agricultural group achieved a surplus of 4.67 billion USD, up 4.2 times.

Meanwhile, the trade balance of the remaining three groups of goods is in deficit: the production input group has a deficit of 4.75 billion USD, up 7%; livestock products have a deficit of 2.64 billion USD, up 7.2%; and salt has a deficit of 24.6 million USD, down 24.1%.

Up to now, the agricultural sector has recorded 6 agricultural, forestry and fishery products with a trade surplus of over 1 billion USD, including: wood and wood products with a surplus of 10.91 billion USD, up 19.6% over the same period last year; fruit and vegetable surplus of 4.47 billion USD, up 39.6%; coffee surplus of 4.33 billion USD, up 38.5%; rice surplus of 3.68 billion USD, up 13.1%; shrimp surplus of 2.92 billion USD, up 21.7%; and tra fish surplus of 1.54 billion USD, up 8.7%.

Viet Anh (t/h)

Source: https://doanhnghiepvn.vn/kinh-te/xuat-sieu-nong-lam-thuy-san-10-thang-tren-62-uoc-dat-5-91-ty-usd/20241031105337111