Agricultural products export value reaches nearly US$ 40 billion

According to MARD, the export turnover of agricultural, forestry and fishery products in the past 10 months has reached US$ 38.75 billion.

Total export turnover of agricultural, forestry and fishery products in the past 10 months is estimated at nearly US$ 38.75 billion, up 13.1% over the same period in 2020. Photo: Tung Dinh.

The estimated turnover is up 13.1% over the same period in 2020. A report from the Ministry of Agriculture and Rural Development (MARD) shows that, the total export - import turnover of agricultural, forestry and fishery products in the same period is estimated at lightly over US$ 74.3 billion, up 24.2% over the same period in 2020. Of which, the import turnover of agricultural, forestry and fishery products is estimated at US$ 35.56 billion, up 39.1% over the same period last year.

In addition, the trade surplus is nearly US$ 3.19 billion, down 63.2% over the same period in 2020.

In October alone, the export turnover of agricultural, forestry and fishery products is estimated at US$ 3.4 billion, down 15.6% over the same period, but up 4.2% in comparison to that of September.

Of which, the export turnover of main agricultural products is estimated at nearly US$ 17.4 billion, up 12.7%; of main forestry products is estimated at US$ 12.8 billion, up 22.3%; of main fishery products is estimated at nearly US$ 6.9 billion, down 0.8%; of main husbandry products is estimated at US$ 359 million, up 6.1%; of main input products group is estimated at US$ 1.4 billion, up 22.3%.

In 10 months, many products and groups of products that have increased export value, are: Coffee, rubber, rice, vegetables and fruits, pepper, cashew nut, cassava and cassava products, livestock products, shrimp, wooden products, rattan, bamboo, sedge carpet; cinnamon… Of which, rubber, cashew nut, cassava and cassava products increase both in export volume and value.

Regarding markets, Vietnam's agricultural, forestry and fishery exports in the first 10 months of the year mainly aim to in Asia (accounting for 42.8% of market share), the Americas (30.0%), Europe (11.4%), Africa (1.9%), Oceania (1.5%).

The largest export market of Vietnam's agricultural, forestry and fishery products is the US, reaching over US$ 10.8 billion (accounting for 27.9% of the market share), of which the export turnover of wood and wood products accounts for 68.4% of the total export turnover to this market.

At the second place is China with the export turnover at nearly US$ 7.5 billion (accounting for 19.3% of market share). At the third place is Japan with the export turnover at over US$ 2.6 billion (6.8%). At the fourth place is South Korea with the export turnover at about US$ 1.7 billion (4.3%)

On the contrary, after 10 months, the US now becomes the largest agricultural products exporter to Vietnam, reaches nearly US$ 3.3 billion, accounts for 8.9% of market share, of which the cotton products account for 36.4% by value. The Cambodia is at the second place with the agricultural products exported to Vietnam valued at about US$ 3.15 billion, accounts for 8.9% of market share, of which cashew nuts account for 65%.

Focus on market development

In the coming time, MARD will focus on promoting bilateral cooperation activities with Russia, Switzerland, Cuba, Indonesia, South Korea, Saudi Arabia, etc., and multilateral cooperation with ADB, IFAD …

In addition, MARD will prepare content and work with the US to develop an action plan to implement the Agreement with the US on timber; to negotiate the fisheries subsidies issues in the WTO and attend the WTO Ministerial Conference; to negotiate the UK's accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

The MARD continues to monitor, capture and synthesize information and data on prices, production situation and supply of agricultural products in localities in the country in new conditions and connection plans between production and consumption during the New Year and Lunar New Year events

The MARD will also report to the Steering Committee for Agricultural Market Development and the Government's Price Steering Committee; promote the activities of Working Group 3430 (in the North), Working Group 970 (in the South); continue to organize conferences and forums connecting supply and demand “970”.

Another important task is to promote the opening of agricultural product markets to other countries; promptly provide information, market regulations, import and export control of Vietnam - China, and information on quotas for agricultural products implementing the Vietnam and European Free Trade Agreement (EVFTA) and the Vietnam and United Kingdom Free Trade Agreement (UKVFTA) agreements to localities, business…

The MARD will also continue to implement "Promoting the brand of Vietnamese agricultural products in the European Union (EU) market in the context of the effective EVFTA Agreement” plan, and to organize online conference on trade in agricultural products between Vietnam and Russia.