Agro-forestry-fishery sector runs US$ 7.9 billion of trade surplus
17:10 | 29/10/2020

VGP – The agro-forestry-fishery trade volume was estimated at US$59.2 billion in the first ten months of 2020, according to the Ministry of Agriculture and Rural Development (MARD).

Illustration photo

The sector ran a trade surplus of US$ 7.9 billion in the reviewed period, representing a year-on-year increase of 10.7%.

The sector had eight hard currency earners with export turnover of US$1 billion each and six others with export turnover of over US$2 billion each including coffee, rice, cashew, fruits and vegetables, shrimp, and furniture.

In October, the overseas shipment of agro-forestry-fishery products valued nearly US$ 3.8 billion, representing a month-on-month increase of 4.2% in which agricultural sector earned US$ 1.5 billion in export turnover (down 4.5%), followed by forestry sector with US$ 1.2 billion (up 0.8%); aquaculture with US$ 840 million (up 1.7%).

In January-October period, the total export turnover was estimated at US$ 33.6 billion, posting a year-on-year increase of 1.1%, in which export of agricultural products decreased by 1.6% to US$15.1 billion, aquatic products down by 2.5% to US$ 6.9 billion, and forestry products up 13.3% to US$ 10.3 billion.

The MARD reported that despite the COVID-19 negative impacts, some exports earned higher export values, including rice, vegetables, cassava, wood and furniture, and bamboo and rattan products.

The U.S. was the biggest importer of Vietnamese agro-forestry-fishery products with US$ 8.6 billion, representing 25.6% of Viet Nam's agro-forestry-fishery export value, followed by China with nearly US$ 8.2 billion./.

By Hoang Ha

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