Agro-forestry-aquatic product exports post trade surplus of 4.74 billion USD in four months

Vietnam’s agro-forestry-aquatic product exports raked in some 19.06 billion USD in the first four months of 2024, up 23.7% year-on-year, the Ministry of Agriculture and Rural Development (MARD) reported.

Meanwhile, the country imported 14.32 billion USD worth of these products, resulting in a trade surplus of 4.74 billion USD, a rise of 71.5% year on year.

In April alone, the export value was 5.14 billion USD, an increase of 19.7% from the corresponding time last year, of which main agricultural products made up 2.83 billion USD (up 29.2%); forestry products, 1.39 billion USD (up 18.6%); and aquatic products, 730 million USD (down 1.5%).

In the four months, Vietnam shipped abroad 10.44 billion USD worth of agricultural products, a year-on-year rise of 32.5%; 5.18 billion USD of forestry products, up 22.8%; and 2.68 billion USD of aquatic products, up 4.2%.

Regarding markets, exports to Asia, America, Europe, Oceania and Africa experienced increases ranging from 19.8% to 38.6%. The US, China and Japan remained the three largest buyers of Vietnam's agro-forestry-aquatic products.

To maintain the growth pace, the ministry said it has dealt with market-related issues to facilitate shipments, especially those to China, the US, Japan and the EU, while expanding to new ones like the Middle East, Africa and Islamic countries.

At the same time, it has maximised opportunities generated by free trade agreements, notably the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the EU-Vietnam Free Trade Agreement (EVFTA).