Vietnam earns $17.1 billion from agricultural, forestry and aquatic products

As the US and China markets recently promoted the purchase of agricultural, forestry and aquatic products, Vietnam earned $17.15 billion of export revenue from these products in January-April 2021, a rise of 24.2% year on year.

Vietnam's seafood export is estimated at $2.39 billion in the past four months, up 6.1% year on year.

According to the Ministry of Agriculture and Rural Development’s report, Vietnam’s export turnover of agriculture, forestry and fisheries in April 2021 reached $4.45 billion, up 29.1% year on year. The total export revenue of these items in the past four months was $17.15 billion.

In the past four months, only coffee and pepper recorded a decrease in export turnover, while export value of other key agricultural products increased, even with very high rates like rubber - 111.6 %, cassava and cassava products - 90.9%, wood products - 71.4%, and rattan, bamboo, carpentry - 65.9%.

The four main export markets of Vietnamese agricultural, forestry and fishery products during this period are the US, China, Japan and South Korea. The US is the largest customer, accounting for 25.1% of the market share, an increase of 58.0% year on year, followed by China with 23.3%, an increase of 35.8%.

Import turnover also increased sharply during this time. Vietnam spent up to $14.93 billion to import agricultural, forestry and aquatic products, up 48.7% over the same period of 2020.

The Ministry of Agriculture and Rural Development targets rice output of about 9.5 million tons, live pork 865,000 tons, poultry meat 368,000 tons, seafood 2.4 million tons, and wood about 4.85 million cubic meters in the second quarter of 2021 to satisfy domestic consumption and for export, in order to earn $9.7 billion.