Vietnam agriculture enjoys trade surplus of 6.3 billion USD in 7 months

Thursday, 04/08/2022 10:01
Vietnam’s export and import turnover of agricultural, forestry and fishery products was estimated at about 58.3 billion USD in Jan-July 2022, a year-on-year increase of 7.2%, according to the Ministry of Agriculture and Rural Development.
Photo for illustration. (Source: VNA)

Of this, exports were valued at about 32.2 billion USD, up 12.2% and imports were estimated at about 26 billion USD, up 1.6%. With these, trade surplus reached nearly 6.3 billion USD, a 2-fold increase year on year.

In the 7 months, four products or product groups had export value of more than 2 billion USD, including coffee, rice, shrimp, and wooden products.

Many items had higher export value than the same period last year, such as: coffee, valued at over 2.6 billion USD (up 46.2%); rubber, over 1.6 billion (up 7%); rice, over 2 billion USD (up 9%); pepper, about 661 million USD (up 11.7%); cassava, 904 million USD (up 32.1%); tra fish, about 1.6 billion USD (up 83.6%); shrimp, over 2.7 billion USD (up 26.2%); and wood and wooden products, over 9.7 billion (up 1.2%).

Some items witnessed decrease, including vegetable and fruit products, over 1.9 billion USD (down 16.1%); cashew nuts, nearly 1.8 billion USD (down 10.4%); and livestock products, 225. 6 million USD (down 11.6%).

Although export turnover of wood and wooden products increased by 1.2%, export value of wood products decreased by 6.9% with a value of over 6.9 billion USD.

Regarding export markets, in the seven months, Asia made up 42.4% market share, America (29.3%), Europe (11.9%), Oceania (1.7%) ) and Africa (1.6%).

The United States continues to be the largest export market, valued at nearly 8.7 billion USD, accounting for a 26.8% market share. It was followed by China with over 5.7 billion USD, a 17.8% market share; Japan with over 2.3 billion USD, accounting for 7.2%; and the Republic of Korea with over 1.5 billion USD, accounting for 4.7%./.