Agricultural, forestry and fishery exports could hit a record $61 billion in 2024

(PLVN) - In an interview with the Vietnam Law Newspaper, Deputy Minister of Agriculture and Rural Development Phung Duc Tien said that as of November 2024, Vietnam's export turnover of agricultural, forestry, and aquatic products reached US$56.74 billion and is expected to reach approximately US$60-61 billion for the whole year.

Exports of agricultural, forestry, and aquatic products set a new record.

According to Deputy Minister of Agriculture and Rural Development Phung Duc Tien, in November 2024, Vietnam's exports of agricultural, forestry, and aquatic products recorded a growth rate of nearly 14% compared to the same period last year. For the first 11 months of 2024, the export value of agricultural products reached US$56.74 billion, an increase of 19% compared to 2023, surpassing the record high of US$53.1 billion for the whole year of 2023. The export value of agricultural, forestry, and aquatic products has exceeded the target of US$54-55 billion set by the Prime Minister.

According to Deputy Minister Tien, if the situation in December continues to be favorable, the export turnover for the whole year could reach 60-61 billion USD, marking a major step forward and affirming the important role of agriculture in the economy .

Deputy Minister of Agriculture and Rural Development Phung Duc Tien provided information on the achievements of the agricultural sector in the first 11 months of 2024.

According to statistics from the Ministry of Agriculture and Rural Development, by the end of November, the whole country had sown and planted 7,825 thousand hectares of rice, reaching 104% compared to the same period last year. The harvested rice area was 6,853.8 thousand hectares, reaching 100.1% compared to the same period; the estimated production reached 42.12 million tons, an increase of 1.1% compared to the previous year, with an average yield of 61.5 quintals/hectare, an increase of 0.6 quintals/hectare.

Regarding the livestock sector, the total number of pigs nationwide is estimated to increase by 3.5% compared to 2023, while poultry farming developed steadily with a 2.9% increase in the poultry flock. To date, the country has planted 232,000 hectares of concentrated forest, a 5.1% increase compared to the same period last year. The aquaculture sector also developed steadily, with an estimated aquaculture production of 5,189.4 thousand tons, a 3.9% increase compared to the same period.

The agricultural trade balance in the past 11 months recorded a surplus of nearly US$16.5 billion, a 53% increase compared to the previous year – a record high. Key sectors all experienced strong growth: agricultural products reached nearly US$30 billion (up over 23%), seafood reached US$9.2 billion (up 11.8%), forestry products nearly US$15.6 billion (up 19.6%), and livestock products over US$475 million (up 4.4%). Notably, exports of wood and wood products achieved a surplus of over US$12.1 billion, while fruits and vegetables recorded a surplus of US$4.56 billion thanks to the promotion of official exports to China.

In terms of markets, Asia accounted for 48.2% of total export value, followed by the Americas with 23.7% and Europe with 11.3%. The US, China, and Japan were the three largest markets, accounting for 21.7%, 21.6%, and 6.6% respectively of total export value. Exports to the US increased by nearly 25%, to China by 11%, and to Japan by 5.5% compared to the same period last year.

Timely guidance and solutions

According to the Deputy Minister, the success of the agricultural sector in 2024 is primarily due to the close attention and guidance of the Party, the State, and the Government, especially the Prime Minister. After Typhoon No. 3, the Government issued Resolution 143 and Telegram No. 100, requiring sectors and localities to urgently overcome the consequences of the natural disaster and restore production.

The entire agricultural sector quickly assessed the damage and implemented reconstruction solutions, prioritizing short-term crops, poultry, and waterfowl, while encouraging unaffected localities to increase production.

Deputy Minister Phung Duc Tien also affirmed that the impressive export results in 2024 were achieved thanks to the restructuring of the industry over the past years, combined with the application of science and technology and the transition to a green and circular economy. In addition, the efforts of units within the industry to expand and diversify export markets also contributed significantly to this achievement.

Regarding future development goals, Deputy Minister Tien stated that the agricultural sector will continue to restructure to increase added value and link production with the market. The sector will promote the application of science and technology, digital transformation, and the development of a circular economy, while expanding and diversifying markets, especially potential markets such as the United States, China, Japan, South Korea, and the EU. The Deputy Minister also pointed out that areas such as livestock farming and deep processing still have significant development potential.

"Although the agricultural sector is facing many challenges such as climate change, diseases, and global economic instability, opportunities remain significant thanks to the increasing global demand for food and the advantages from free trade agreements. To achieve greater goals, the agricultural sector will continue to focus on increasing added value, diversifying products, and expanding markets," Deputy Minister Tien said.

According to experts, looking back at 2024, Vietnam's agricultural sector not only overcame difficulties but also affirmed its important role in socio-economic development. With the right orientations, the agricultural sector will continue to develop sustainably and contribute to the overall development of the country.

Source: https://baophapluat.vn/xuat-khau-nong-lam-thuy-san-co-the-lap-ky-luc-61-ty-usd-trong-nam-2024-post533983.html