Asia remains biggest export market for Vietnamese agro-forestry-fishery products

According to the Ministry of Agriculture and Rural Development (MARD), the export turnover of agro- forestry- fishery products in October alone was estimated at US$5.91 billion, bringing the total export turnover of this items in 10 months to US$51.74 billion, up 20.2% over the same period from last year.

The trade surplus of agro-forestry-fishery products throughout the reviewed period reached US$15.21 billion, up 62.2% on-year.

Currently, six agricultural goods maintain trade surpluses surpassing US$1 billion. They included wood and woodwork products with a surplus of US$10.91 billion, fruit and vegetables with US$4.47 billion, coffee with US$ 4.33 billion, rice US$3.68 billion, shrimp US$2.92 billion, and Tra fish with US$1.54 billion.

Notably, three groups of commodities enjoyed a trade surplus, namely the group of wood and forestry products with a surplus of US$11.75 billion, an increase of 18.8% over last year's same period; the group of aquatic products with a surplus of US$6.21 billion, an increase of 17.2% and the group of agricultural products with a surplus of US$ 4.67 billion, an increase of 4.2 times.

During the reviewed period, Asia retained its position as the largest export market for Vietnam's agro- forestry-fishery products with a market share of 48.2%. The next largest markets were the Americas and Europe with respective market shares of 23.5% and 11.5%. The market shares of Africa and Oceania were small, accounting for 1.8% and 1.4%, respectively.

Compared to the same period last year, the estimated export value of Vietnam's agro- forestry- fishery products to Asia during the ten- month period increased by 17.2%; America by 24.7%; Europe by 34.1%; Africa by 2% and Oceania by 14.5%.

In terms of markets, the US ranked first with a market share of 21.6%, followed by China with 21.5% and Japan with 6.5%. These are the three largest export markets for agro- forestry- fishery products from Vietnam. Compared to the same period from last year, the estimated export value of the items to the US increased by 25.9%, China by 11.4%, and Japan by 5.9%.

According to Phung Duc Tien, MARD deputy minister, with the current growth rate of the agricultural, forestry and fishery sector, this year's export turnover is anticipated to reach US$60 - 61 billion, exceeding the set target.