Agro-forestry and fisheries exports estimated at nearly US$30 billion

Vietnam’s agro-forestry and fisheries exports are estimated to hit nearly US$2.74 billion in October, bringing the total revenue for the first ten months of 2017 to US$29.76 billion, up 12.7% in comparison to the same period last year, according to the Ministry of Agriculture and Rural Development.

Vietnam exports over five million tonnes of rice in the first ten months of 2017.
Vietnam exports over five million tonnes of rice in the first ten months of 2017.

The export value of key farming products during the period reached roughly US$15.62 billion, representing an annual increase of 15.2%, while the turnover from the exports of key aquatic and forestry products were US$6.73 billion and US$6.44 billion, respective hikes of 17.6% and 9.9% from a year previous.

So far this month, Vietnam has earned US$206 million through the exportation of 430,000 tonnes of rice, raising the ten-month figures to 5.05 million tonnes and US$2.25 billion, up 22.3% in volume and 21.1% in value annually.

Rubber and cashew nuts continued to see sharp rises in terms of the export value between January and October. Vietnam exported an estimated volume of 1.05 million tonnes of rubber, raking in US$1.77 billion, representing annual increases of 5.7% in volume and 40.6% in value. Meanwhile, despite a 0.4% decline to 289,000 tonnes in volume, cashew exports posted a 23.1% growth in value, up to US$2.87 billion, from 2016.

Vietnam’s coffee export volume decreased by almost 23% annually, to 1.17 million tonnes, bringing in a turnover of just US$2.69 billion, a slight fall of 2.5% compared to the same period last year.

In the ten months, the country’s pepper exports witnessed an annual hike of 20.7% in volume, to 192,000 tonnes, but a 21% decline in value, to US$1.02 billion.

Fruit and vegetables still saw good growth, with the export value posing a sharp rise of 41.2%, to approximately US$2.84 billion between January and October. China, Japan, the US and the Republic of Korea remained the four largest importers of Vietnamese fruit and vegetables.

During the period, Vietnam also imported US$22.93 billion worth of agro-forestry and fisheries products, up 14.3% annually, resulting in a trade surplus of nearly US$7 billion.