With these results, the export turnover has surpassed the target of 54-55 billion USD set for the entire year of 2024, and the sector is confidently heading toward a new record of 60 billion USD.
Vietnam's agricultural, forestry, and aquatic trade balance reached a surplus of 16.46 billion USD, up 52.8% compared to the same period last year. Specifically, the forestry product group had a surplus of 13.05 billion USD, an 18.7% increase from 2023; the seafood group saw a surplus of 6.88 billion USD, up 17.5%; and the agricultural products had a surplus of 4.72 billion USD, an increase of 3.1 times.
Regarding specific products, Vietnam has seven agricultural, forestry, and aquatic products with a trade surplus of over 1 billion USD, including wood and wood products with a surplus of 12.11 billion USD, up 19.4% from last year; fruits and vegetables with 4.56 billion USD, up 33.9%; coffee with 4.53 billion USD, up 30.5%; rice with 4.07 billion USD, up 14.6%; shrimp with 3.19 billion USD, up 20.5%; tra fish with 1.72 billion USD, up 10.1%; and black pepper with a surplus of 1.07 billion USD, up 43.5%.
In the first 11 months, the export value of agricultural products reached 29.78 billion USD, up 23.2%; livestock products reached 475.5 million USD, up 4.4%; seafood reached 9.2 billion USD, up 11.8%; and forestry products reached 15.59 billion USD, up 19.6%.
Accordingly, the volume and value of rice exports in November were estimated at 700,000 tonnes, worth 444.9 million USD, bringing the total volume and value of rice exports for the first 11 months to nearly 8.5 million tonnes, valued at 5.31 billion USD. This marks a 10.6% increase in volume and a 22.4% increase in value compared to the same period in 2023. This was the first time the agricultural sector had achieved such production and value for rice exports.
The Philippines is Vietnam's largest rice consumer market, with a market share of 46.1%. Indonesia and Malaysia are the next largest markets, with respective market shares of 13.5% and 8.2%. Among the top 15 rice export markets, the value of rice exports saw the highest increase in Malaysia, with a 2.2-fold rise. The market with the largest decline in export value is China, which saw a decrease of 71.3%.
The value of fruit and vegetable exports in November was estimated at 500 million USD, bringing the total value of fruit and vegetable exports for the first 11 months to 6.66 billion USD, an increase of 28.2% compared to the same period in 2023. Currently, China ranks first in terms of consumption of Vietnam’s fruits and vegetables, with a 66.5% market share, valued at 4.1 billion USD, up 28.7% compared to the same period in 2023. The next two largest fruit and vegetable export markets are the US and the Republic of Korea (RoK), with respective market shares of 4.7% and 4.3%.
The value of fruit and vegetable exports increased in 14 of the 15 main export markets, with the highest increase in Germany at 73.6%. The Netherlands is the only major market where the export value decreased, with a 26% drop.
Coffee exports have reached nearly 1.2 million tonnes, valued at 4.84 billion USD. Although the volume decreased by 15.4%, the value increased by 32.8% compared to the same period in 2023. This achievement was attributed to the average export price of coffee reaching 4,037 USD per tonne, up 56.9% compared to the same period in 2023.
Germany, Italy, and Spain are the top three markets for Vietnamese coffee, with respective market shares of 11%, 8.1%, and 8%. Coffee exports grew in all markets within the top 15 largest export destinations, with the most significant increases in Malaysia (up 2.2 times) and the Philippines (up 2.1 times), while Belgium saw the smallest increase at 8.6%.
Regarding export markets, the US, China, and Japan are the top three markets for Vietnam's agricultural, forestry, and fishery products. Compared to the same period last year, the estimated export value of agricultural, forestry, and fishery products to the US increased by 24.6%, to China by 11%, and to Japan by 5.5%.
