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Official Gazette

Saturday, August 13, 2022

Vietnam posts two-fold growth in agricultural trade surplus in 7 months

Updated: 17:47’ - 31/07/2022
Vietnam's import-export value of agricultural, forestry and aquatic products reached USD 58.3 billion in the first seven months of 2022, a year-on-year increase of 7.2 percent, according to the Ministry of Agriculture and Rural Development.
Revenue of these exports was estimated at USD 32.3 billion, up 12.2 percent year-on-year, while imports was estimated at USD 26 billion, up 1.6 percent.

Vietnamese fresh coconuts exported to Japan__Photo: VNA

So far this year, Vietnam has enjoyed about USD 6.3 billion in trade surplus in agriculture, forestry and fishery products, nearly doubling that the same period in 2021.

From January-July, shipments of key agricultural products totaled USD 13.3 billion, up 8.4 percent. Aquatic exports saw a significant surge of 34.2 percent to nearly USD 6.7 billion. Forestry exports also increased 1.3 percent to USD 10.4 billion during the period.

There were four exports whose value reached over USD 2 billion, namely coffee, rice, shrimp, and wood products.

Exports posting high growth included coffee (46.2 percent), rubber (7 percent), rice (9 percent),   pepper (11.7 percent), tra fish (83.6 percent), and shrimp (26.2 percent).

In the reviewed period, the export value of Vietnam's agriculture, forestry and fishery products to markets in Asia accounted for 42.4 percent of the market share, followed by the Americas (29.3 percent), Europe (11.9 percent), Oceania (1.7 percent), and Africa (1.6 percent).

The US remained Vietnam’s biggest buyer, purchasing nearly USD 8.7 billion worth of the products, or 26.8 percent of the total.

It was followed by China, with import value of USD 5.7 billion, accounting for 17.8 percent of the total.- (VNA/VLLF)

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