Name 5 export commodity groups with billion USD value by March 15

Agricultural, forestry and fishery exports flourish at the beginning of the new year. Agricultural, forestry and fishery exports earned nearly ten billion dollars in just the first two months of the year.

According to the latest preliminary statistics of the General Department of Customs, from the beginning of 2024 to March 15, the 5 billion-dollar export commodity groups of the agricultural sector are: Wood and wood products, coffee, seafood, vegetables, and rice.

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Agriculture names 5 groups of export goods worth billions of USD by March 15

Of which, wood and wood products continue to be the largest export group of the agricultural sector with a turnover of 2.86 billion USD, an increase of approximately 30% over the same period last year.

Coffee exports ranked second and reached a turnover of 1.574 billion USD, up 61.1% over the same period last year.

Seafood ranked third and reached 1.546 billion USD, up nearly 10.6% over the same period last year.

Rice reached 1.06 billion USD, up 53.7% over the same period last year. Vegetables and fruits reached 1.03 billion USD, up 40.3% over the same period last year.

The fact that all five commodity groups achieved double-digit growth is an extremely optimistic sign in the context that in 2023, many groups experienced a sharp decline in turnover compared to 2022, including wood and wood products and seafood.

The above results are considered record numbers in the first months of the year for exports of these important industries.

With a positive start and forecast of favorable factors of the world and domestic economy, the Ministry of Agriculture and Rural Development recently set a target of 55 billion USD for agricultural, forestry and fishery exports in 2024.

In terms of agricultural products, coffee; vegetables; and rice are forecast to continue to be key commodity groups with strong growth.

In particular, according to experts' analysis, for the coffee industry, domestic and international prices are at their highest levels ever. Therefore, it is forecasted that in 2024, coffee exports will set a record and earn a turnover of about 5 billion USD.

Similarly, rice is also looking forward to a successful year, with many positive signals coming from important export markets right from the beginning of the year and the expectation of reaching and exceeding 5 billion USD in export turnover. Fruit and vegetable exports are also forecast to earn over 6 billion USD this year.

Maintaining the leading position and high growth, the two main commodity groups of wood and wood products; seafood are also aiming for positive results in 2024. In particular, seafood exports are forecast to be higher than in 2023 and can reach a turnover of up to 9.5 billion USD. Meanwhile, for wood and wood products, this year is expected to earn an export turnover of about 15 billion USD. This will continue to be the only group of tens of billions of dollars in export goods of the agricultural sector.

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