Agro-forestry-aquatic trade surplus up nearly 34% in 11 months

Exports were valued at US$47.84 billion and imports $37.29 billion, resulting in total export and import turnover of agro-forestry-aquatic products worth $85.13 billion in the 11 months of 2023, down 5.9 per cent from the same period last year.

Việt Nam's agro-forestry-aquatic sector saw a trade surplus of $10.55 billion in the January-November period, up 33.7 per cent year-on-year, the Ministry of Agriculture and Rural Development (MARD) reported.

Specifically, exports were valued at US$47.84 billion and imports $37.29 billion, resulting in total export and import turnover of agro-forestry-aquatic products worth $85.13 billion in the 11 months, down 5.9 per cent from the same period last year.

As many as six products/product groups have posted an export value of over $3 billion: coffee, rice, vegetables, cashew nuts, shrimp, and wood and wooden products.

In November alone, the country's export revenue stood at $4.79 billion, up 0.3 per cent compared to the previous month and up 13 per cent year-on-year. In particular, all product groups increased from November 2022 such as farm produce, up 24.7 per cent, livestock 9.7 per cent, forest products 2.8 per cent, and aquatic products 1.4 per cent.

During the first 11 months, due to the sharp decrease in the export value of some main items, the total export turnover still decreased 2.7 per cent from the corresponding time last year.

Regarding the market, the export value of products to Asia went up 6.8 per cent, America down 17.7 per cent, Europe down 12.5 per cent, Africa up 21.7 per cent, and Oceania down 13.5 per cent.

China, the US and Japan remained the largest importers. Particularly, the export value from China rose 18 per cent, while the export revenue from the US and Japan dropped 17.9 per cent and 9.1 per cent, respectively.

The ministry said that it will continue to handle market issues to facilitate the export of agricultural and aquatic products, especially to markets in China, the US, the EU, and the Eurasian Economic Union, while optimising free trade agreements to boost ago-forestry-aquatic product exports.