Business

Agricultural exports likely to exceed 60 billion USD amid challenges

With swift production recovery and continued growth, Vietnam's agricultural sector could potentially surpass the 60 billion USD export target, according to the Ministry of Agriculture and Rural Development (MARD).

Coffee is among key export earners of the agricultural sector in the first nine months. (Photo: VNA)
Coffee is among key export earners of the agricultural sector in the first nine months. (Photo: VNA)

Hanoi (VNA) – With swift production recovery and continued growth, Vietnam's agricultural sector could potentially surpass the 60 billion USD export target, according to the Ministry of Agriculture and Rural Development (MARD).

In its report, the ministry said that the first nine months of this year saw farm produce exports reach 46.28 billion USD, a 21% year-on-year increase. The sector also achieved a trade surplus of 13.9 billion USD, up 71.2% from 2023, contributing 66.8% of the nation’s total trade surplus.

Agricultural export turnover led the pack with 24.85 billion USD, a 27.7% rise. Forestry and aquaculture products earned 12.46 billion USD and 7.23 billion USD, up 20.3% and 9.5%, respectively, while the livestock sector brought in 376 million USD, a modest 3.8% increase.

Key products like coffee, rice, cashew, fruit, shrimp, pangasius, and peppercorn significantly boosted export growth. In particular, prices of several staples reached record highs, with the costs of coffee exports up by 56%, pepper 49.2%, and rice 13.1%.

Deputy Minister Phung Duc Tien expressed optimism that if the growth momentum holds, agricultural exports could achieve a record 60-61 billion USD by year’s end.

However, he noted that despite favourable trends, the sector faces serious challenges, notably the impact from Typhoon Yagi that has inflicted over 1.25 billion USD in damage on the sector, with livestock and aquaculture being the hardest hit.

The high cost of production materials for aquaculture remains a pressing issue. Moreover, fourth-quarter export results for the fisheries sector will partly depend on the EU's ongoing inspection related to illegal, unreported, and unregulated (IUU) fishing, as well as US decisions regarding anti-subsidy duties on Vietnamese shrimp.

To accelerate the post-storm recovery, the official recommended further support production revitalisation and promote effective agricultural models across localities unaffected by the typhoon.

He went on noting that to sustain domestic production, it is necessary to tighten anti-smuggling measures, limit imports, and establish a stronger foothold in the Halal market of 2.2 billion people with immense growth potential./.

VNA
#Vietnam agricultural sector #Ministry of Agriculture and Rural Development #Phung Duc Tien Vietnam
Follow VietnamPlus

Related News

Brand building for Vietnamese agricultural products needed to boost exports

Brand building for Vietnamese agricultural products needed to boost exports

Vietnam's agricultural development has gained many achievements in recent times, with seven commodities recording annual export turnover of over 3 billion USD, namely wood and wooden products, shrimp, coffee, rice, rubber, vegetables and fruits, and cashew nuts. These products are present in most of the world's major import markets such as the US, the European Union (EU) and Japan.

See more

Workers process tra (pangasius) for export (Photo: VNA)

Vietnam–Singapore trade continues to thrive

For the year as a whole, Vietnam retained its position as Singapore’s 10th largest trading partner. Bilateral trade reached a record high of nearly 40 billion SGD, up 26.2% from the previous peak of 31.67 billion SGD recorded in 2024.

Eric Van Vaerenbergh, an energy expert and lecturer at the Brussels Engineering School (ECAM) (Photo: VNA)

Belgian expert optimistic about Vietnam’s economic outlook

Vietnam should move from a growth model based mainly on expanding capital and labour to one driven by productivity improvements. He said that this requires enhancing the quality of the workforce, particularly engineers, technicians, and managers in industrial sectors.

Workers at the VSIP Hai Phong industrial and urban complex, which specialises in producing electronic components for office equipment. (Photo: VNA)

Roadmap aims to improve business climate and boost competitiveness

By the end of 2026, Vietnam aims to rank among the world’s top 50 performers in the United Nations Sustainable Development Goals, advance at least three places in the International Property Rights Index, and climb at least one position in the Global Innovation Index.

Vietnam is strengthening its position in the technology value chain, becoming a major manufacturing hub for complete consumer electronics products. (Photo: VNA)

ESG standards offer opportunities to reposition Vietnam’s electronics firms

The 2025-2027 period will be a critical turning point, as exporters to the European market will be required to strictly comply with ESG standards, including net-zero emissions roadmaps, labour standards, corporate governance and transparency requirements. As a key export sector, the electronics industry is being directly and strongly affected by this shift.

A production line for camera modules and electronic components at the factory of MCNEX VINA Co. Ltd, a Republic of Korean-invested company in Phuc Son Industrial Park, Ninh Binh province. (Photo: VNA)

Science, technology, innovation as engines of economic growth

To ensure that science and technology truly act as a powerful growth engine, experts emphasised the need for the Government to put in place supportive mechanisms and policies that encourage enterprises to invest in research and development, while strengthening cooperation among the State, research institutions and the business sector.

The headquarters of the Ministry of Industry and Trade in Hanoi (Photo: VNA)

PM updates lead roles to drive UKVFTA forward

The Ministry of Industry and Trade (MoIT) is named the lead agency, with overall responsibility for the agreement’s general goals and definitions, trade remedies, non-tariff barriers to trade and investment in renewable energy, competition policies, State-owned enterprises, enterprises with special or exclusive rights and those with designated monopolies, as well as institutional, general and final terms.

Vietravel Airlines is taking measures to enhance service quality and optimise operations amid high travel demand during Tet. (Photo: VNA)

Vietravel Airlines to add new route serving Lunar New Year travel peak

During the peak period of the Lunar New Year (Tet) festival in 2026, Vietravel Airlines plans to operate six – eight flights daily on the Ho Chi Minh City – Hanoi route, three flights daily on the Ho Chi Minh City – Da Nang and Ho Chi Minh City – Vinh routes; and two flights daily on the Ho Chi Minh City – Quy Nhon route.

The completion of Can Tho - Ca Mau expressway has helped shorten travel time from Can Tho to Ca Mau to just one hour and a half (Photo: VNA)

Can Tho–Ca Mau expressway fully opens from January 19

The new section, together with the Can Tho–Hau Giang segment that has been operating smoothly since late December last year, has completed the entire 110.85-km route. With total investment exceeding 27.52 trillion VND (1.04 billion USD), the four-lane expressway is built to modern standards and serves as a key transport artery linking major economic and political centres, industrial zones and seaports in the southwestern region.