Agricultural sector enjoys US$ 4.5 bln trade surplus

In the January-June period, exports of key agricultural products are estimated at US$ 7.17 billion (up 6.9%), aquaculture at US$ 3.57 billion (up 28.6%) and forestry products at US$ 2.93 billion (up 12%).

Overall the sector enjoyed a trade surplus of US$4.5 billion in the first half of 2014.

In the first six months, the combined production value in the sector also rose by 3.4%, signaling agricultural growth has improved significantly, MARD reports.

However, the MARD reported that due to tensions in the East Sea since early May, the shipment of agricultural products between Viet Nam and China has encountered difficulties and exports have seen a significant decline.

Agriculture and Rural Development Deputy Minister Ha Cong Tuan said some Vietnamese agricultural products are overly dependent on the Chinese market, primarily citing rice and rubber, which China imports 40% of total export volume.

Additionally, 80-90% of dragon fruit and cassava are shipped to China, he said.

The MARD has directed relevant agencies to devise measures to diversify and open up new markets./.

By Kim Anh