Agricultural, forestry and fishery exports over 40 billion USD
According to statistics compiled by the Ministry of Agriculture and Rural Development, in the first 8 months of 2024, the total export turnover of agricultural, forestry and fishery products reached 40.08 billion USD, and imports were 28.28 billion USD. Thus, the trade surplus of the agricultural sector was 11.8 billion USD, an increase of 68.4%.
In August 2024 alone, the export turnover of agriculture, forestry and fishery products reached 5.55 billion USD, up 12.3% over the same period last year; of which the export of main agricultural products reached 2.99 billion USD (up 22.6%), forestry products 1.45 billion USD (up 4.7%), and aquatic products 900 million USD (up 5%). The export turnover of the livestock industry was 46.5 million USD (down 4.8%) and production inputs 161 million USD (down 23%).
Specific contributions to this result include main agricultural products estimated at 21.32 billion USD, up 24%; forestry products at 10.97 billion USD, up 19.7%; aquatic products at 6.23 billion USD, up 7.6%; livestock at 324 million USD, up 0.3%.
Notably, the main export items were all higher than the same period last year, such as wood and wood products 10.24 billion USD (up 20.6%); coffee 4.03 billion USD (up 36.1% with volume 1,059 thousand tons, down 11.9%); rice 3.85 billion USD (up 21.7% with volume 6.16 million tons, up 5.9%); cashew nuts 2.77 billion USD (up 21.7% with volume 487 thousand tons, up 22.9%); vegetables and fruits 4.63 billion USD (up 30.6%); shrimp 2.41 billion USD (up 9.5%); tra fish 1.2 billion USD (up 8.2%).
According to the Ministry of Agriculture and Rural Development, in the first 8 months of 2024, the total export turnover of agricultural, forestry and fishery products nationwide is estimated at 40.08 billion USD.
Along with that, the average export price also recorded a positive increase with rice reaching 625 USD/ton, up 14.8%; coffee reaching 3,805 USD/ton, up 54.5%; rubber reaching 1,567 USD/ton, up 16.6%; pepper reaching 4,810 USD/ton, up 47%; tea reaching 1,756 USD/ton, up 2.2%.
According to statistics, in terms of markets, export value to all markets recorded an increase. Of which, exports to Asia were estimated at 19 billion USD (up 15.7%); Americas reached 9.3 billion USD (up 22.3%); Europe 4.8 billion USD (up 30.5%); Africa 747 million USD (up 5.5%) and Oceania 563 million USD (up 12.8%).
In terms of market share, the US, China and Japan continue to be the three largest export markets with export value to the US accounting for 21.4%, up 23.5%; China accounting for 20.4%, up 10.2% and Japan accounting for 6.7%, up 4.6%.
Durian continues to break "records"
Fruit and vegetable exports continued to be a bright spot in Vietnam's agricultural exports in August 2024, reaching over 700 million USD, up 26.8% over the previous month and up 50.8% over the same period in 2023.
According to the Ministry of Agriculture and Rural Development, the export turnover of fruits and vegetables in August was one of the months with the highest export value of the year. In the first 8 months of 2024, the export turnover of fruits and vegetables reached 4.58 billion USD.
China continues to be the largest import market for Vietnam's fruit industry, with a turnover of 2.93 billion USD, accounting for 64% of Vietnam's total fruit and vegetable export market share. Next are the US and South Korea with export turnover reaching 223.5 million USD and 223 million USD, up 31% and 51% over the same period last year, accounting for 4.88% and 4.87% of market share, respectively.
Notably, Thailand has risen to the 4th position in the list of markets importing fruits and vegetables from Vietnam. In the first 8 months of 2024, the export turnover of fruits and vegetables to Thailand reached 141 million USD, an increase of 70% over the same period last year.
According to Dang Phuc Nguyen, General Secretary of the Vietnam Fruit and Vegetable Association, Thailand has recently increased its imports of durian from our country, including frozen durian. This has boosted the export value through this market. Some shipments of Vietnamese durian imported by Thailand will be used for export to China.
August's fruit and vegetable export turnover is one of the months with the highest export value of the year. In the first 8 months of 2024, fruit and vegetable exports reached 4.58 billion USD. Photo: Hoang Nguyen
According to Mr. Nguyen, in addition to building brands and positions in the traditional Chinese market, the Vietnamese fruit and vegetable industry is increasingly expanding in the Northeast Asian region. Accordingly, in this market area, China and South Korea alone accounted for 69% of Vietnam's total fruit and vegetable export turnover after 8 months. It can be said that Northeast Asia is a strategic market for Vietnamese fruit and vegetables, because exporting enterprises not only benefit from tariffs, but also reduce transportation and logistics costs compared to markets such as the EU, the United States, etc.
Regarding fruit varieties, Mr. Nguyen said that durian is still at the top of the export list. In 8 months, durian exports are estimated at 1.82 billion USD, up 45% over the same period last year, contributing 40% to the total fruit and vegetable export turnover. China is the largest export market for Vietnamese durian and Vietnam is the second largest supplier of fresh durian to China.
In addition to the fruit and vegetable industry, wood and wood product exports have many positive signals. Mr. Trieu Van Luc, Deputy Director of the Department of Forestry, said that in the first 8 months of 2024, the export value of wood and forest products of Vietnam is estimated at nearly 10.2 billion USD, of which wood products are estimated at 6.97 billion USD. Meanwhile, the Ministry of Agriculture and Rural Development set a target of 14.2 billion USD in export value of wood and wood products in 2024, an increase of 6% compared to 2023. Up to this point, Vietnam's wood and wood product exports are very positive, having completed 67% of the plan set for 2024.
The largest export markets all recorded positive growth compared to the same period last year; in which, the largest export market for wood and wood products of Vietnam is the US, increasing by 25.9% in turnover compared to the same period, reaching more than 5.5 billion USD in the first 8 months of 2024. Next is the Chinese market, with 1.2 billion USD, up 39% over the same period last year; followed by Japan with 961 million USD, up slightly by 1.4% over the same period last year. Wood and wood products exported to South Korea decreased by 2.1% over the same period last year, to 452 million USD.
In addition, Vietnam also exported wood and wood products to Canada with a turnover of 133 million USD, up 25% over the same period last year; to the UK reached 124 million USD, up 17.8% over the same period last year. The reason why the wood industry has many positive signals in terms of export is because the wood processing industry and wood product export have many advantages from a highly skilled labor force, abundant wood raw materials, and legally imported wood that can produce products with traceable origin.
In 2024, the Ministry of Agriculture and Rural Development set an export target of about 54 billion USD. Deputy Minister Phung Duc Tien affirmed: "From July onwards, the demand for agricultural products is often higher, so the export target by the end of the year of about 54 billion USD will certainly be achieved."
In the last months of the year, the Ministry of Agriculture and Rural Development will promote the development of domestic consumption and export markets, continue to handle market issues to facilitate the export of agricultural and aquatic products, especially to the markets of China, the United States, the EU, the Eurasian Economic Union, etc.; take advantage of international trade agreements, especially the Comprehensive and Progressive Agreement for Trans -Pacific Partnership (CPTPP), the Vietnam-EU Free Trade Agreement (EVFTA) to promote the export of key agricultural, forestry and aquatic products, and support businesses in signing new export orders.
In addition to large, key markets such as China, the US, Japan, and the EU, the agricultural sector is also actively cooperating with businesses to open new markets with great potential such as: Halal Muslim countries, the Middle East, Africa, etc.
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