International Business News – A representative of Vietnam’s Ministry of Agriculture and Rural Development said that in the first eight months of this year, the total export value of agricultural, forestry and fishery products is expected to reach US$66.2 billion, an increase of 8.7% year-on-year. Among them, the export value was about 36.3 billion US dollars, a year-on-year increase of 13.1%; the total import value was about 29.9 billion US dollars, a year-on-year increase of 3.9%. Accordingly, it is estimated that in the first eight months of this year, the foreign trade surplus of agricultural, forestry and fishery products exceeded US$6.3 billion, a year-on-year increase of 94.6%.
In August 2022, the export value of agricultural, forestry and fishery products is expected to reach nearly 4.4 billion US dollars, an increase of 32% year-on-year and a month-on-month increase of 0.3%. Among them, the export value of the main agricultural products group is about 1.8 billion US dollars, the export value of the main forestry products group can reach more than 1.4 billion US dollars, the export value of aquatic products is 893.8 million US dollars, and the export value of animal husbandry is about 41.6 million US dollars.
In the first eight months of this year, the export value of the main agricultural product group reached nearly 15 billion US dollars, an increase of 7.4%; the export value of the main forestry product group was 11.8 billion US dollars, an increase of 6.2%; the export value of aquatic products exceeded 7.5 billion US dollars, an increase of 35.3%; however, the export value of the main product group of animal husbandry was only 258.6 million US dollars, a decrease of 12.2%. Among them, a total of 7 product groups exported more than 2 billion US dollars, such as: coffee, rubber, rice, vegetables, cashews, shrimp and wood products.
At the same time, the export value of several products was higher than the same period last year, such as: coffee export value exceeded US$2.8 billion, an increase of 40.3%; rubber exceeded US$2 billion, an increase of 8.1%; rice exceeded US$2.3 billion, an increase of 8.1%; 712 million US dollars, an increase of 8.2%; cassava and cassava products reached 941 million US dollars, an increase of 22.5%; Chayu exceeded 1.7 billion US dollars, an increase of 82.6%; shrimp nearly 3 billion US dollars, an increase of 22%; wood and wood products exceeded 110 billion, an increase of 6.5%.
As for export markets, in the first eight months of this year, Asian markets accounted for 43.1% of Vietnam’s export market share of agricultural, forestry and fishery products; the Americas 28.9%; Europe 11.8%; Oceania 1.7% and Africa 1.6%. The United States is still the largest export market for Vietnam’s agriculture, forestry and fishery products, with an export value of nearly US$9.6 billion, accounting for 26.4% of the market share; China ranks second with about US$6.5 billion, accounting for 17.8% of the market share; the third is the Japanese market, More than 2.7 billion US dollars, accounting for 7.4% of the market share; the fourth is the Korean market, more than 1.7 billion US dollars, accounting for 4.7% of the market share.
The representative of the Ministry of Agriculture and Rural Development of Vietnam said that recently, the Ministry of Agriculture and Rural Development of Vietnam has been actively working closely with the Ministry of Foreign Affairs, the Ministry of Industry and Trade and local governments to promote the promotion and promotion of Vietnamese agricultural products. At the same time, the Ministry of Agriculture and Rural Development of Vietnam proactively updated the new export market policies for the domestic business community and local governments, and collected information on the market, consumer tastes and needs, so as to facilitate relevant companies and localities to grasp the new situation in the export market.