Agro-forestry- fishery sector posts US$8.8 billion trade surplus

Friday, 2019-11-29 14:28:58
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NDO – The agricultural, forestry and fishery sector reported a trade surplus of US$8.8 billion in the first 11 months of this year, US$1.5 billion higher than the same period last year, according to the Ministry of Agriculture and Rural Development (MARD).

During the 11-month period, the sector was estimated to reach total import-export revenue of US$65.7 billion, including US$37.3 billion worth of export revenue, up 3.6%, and US$28.5 billion worth of import revenue, down 0.7% over the same period last year.

The sector also saw seven groups of products with export revenue of over US$2 billion each, including coffee, rubber, rice, cashew nuts, fruit, shrimp, wood and wood products.

China remains the largest export market for Vietnamese agricultural products, accounting for 26.9% of the total export revenue. It is followed by the US (21.9%), the EU (11.7%), ASEAN (10%), Japan (8.8%), and the Republic of Korea (5.8%).

In the January-November period, export revenue of some types of products increased compared to the same period in 2018, including wood and wood products (up 19.5%), tea (up 16%), rubber (up 9.3%), vegetables (up 9%), and others.

However, some products posted declining export revenue such as coffee (down 15%), fruit (down 5.5%), cashew nuts (down 1.8%), pepper (down 5.8%) and rice (down 9.4%).

MARD forecast that the total export revenue of the agricultural, forestry and fishery sector will hit US$41.3 billion by the end of this year, resulting in a trade surplus of US$9.5-US$10 billion.