Vietnam earns $56.3 billion from agro-forestry-fishery exports

The Ministry of Agriculture and Environment (MAE) said on October 5 that fruit and vegetable exports reached nearly $7.35 billion during January-September, up 19.9 per cent from the same period last year. Exports in September alone were estimated at $1.19 billion.

Photo: baodautu.vn

China remained the largest market for Vietnamese fruit and vegetable exports, accounting for 63 per cent of total export value. Exports to the market rose 38.8 per cent on-year in the first nine months.

The United States and South Korea followed, accounting for 7 per cent and 3.8 per cent of total exports, respectively. Fruit and vegetable exports to the US increased 17.9 per cent, while those to South Korea rose 9.7 per cent.

Overall agro-forestry-fishery exports reached an estimated $56.3 billion in the first nine months, according to the MAE.

Tran Gia Long, deputy director of the Department of Planning and Finance under the MAE, said exports had maintained solid growth during the period, with China’s imports of Vietnamese agro-forestry-fishery products rising nearly 19 per cent on-year.

China accounted for nearly 25 per cent of Vietnam’s total agro-forestry-fishery export value, making it the country’s largest export market.

US imports increased by more than 1 per cent on-year, giving the market a share of nearly 20 per cent, while exports to Japan rose by around 5 per cent, with Japan accounting for more than 7 per cent.

“Exports of most agricultural, forestry and fishery products increased, except for rice, coffee, and rubber, mainly due to lower selling prices,” Long said.

Fishery exports reached nearly $9.2 billion in the first nine months, up more than 12 per cent on-year. In the first eight months, exports to China increased 34 per cent, while those to Japan and the US rose 3 per cent and 2 per cent, respectively.

The MAE expects exports to accelerate during the final quarter as demand from major markets continues to increase.

The ministry is targeting agro-forestry-fishery export revenue of more than $74 billion for the full year, meaning the sector needs to generate at least $18 billion in the final three months.

Long said the sector was also working towards achieving agricultural GDP growth of 4 per cent for the full year, in line with the government’s revised target as part of its broader goal of achieving double-digit economic growth.

“The ministry has developed adjusted growth scenarios for each sector and field on a monthly basis, with fourth-quarter growth targeted at at least 4.2 per cent to bring full-year growth to 4 per cent or higher,” he said.

The MAE estimates that fruit and vegetable exports could generate an additional $3.8 billion in the final quarter, including $1.2-1.3 billion from durian. Full-year fruit and vegetable exports are expected to reach $3.8-4 billion.

Fishery exports are projected to bring in around $4 billion during the final three months, while timber and forestry products could generate approximately $5.8 billion.

Rice, coffee, pepper and cashew exports are expected to contribute around $7.4 billion in the final quarter.

“The MAE expects major markets to increase imports in both volume and value in the final months of the year. We therefore expect agro-forestry-fishery exports to accelerate and meet or exceed the set target,” Long said.