Vietnam continues to solidify its position as one of the world's leading exporters of agro-forestry-fishery products, achieving an export turnover of 62.4 billion USD in 2024, an 18.5% increase compared to 2023.
Vietnam’s total export turnover of agro-forestry-fishery products in the first 11 months of 2024 reached 56.74 billion USD, an increase of 19% over the same period in 2023. The sector has exceeded the set target of 54-55 billion USD for the whole year, and is confidently aiming for a new record of 60 billion USD.
Vietnam has recorded an estimated agro-forestry-fishery trade surplus of 8.28 billion USD during the first half of 2024, surging 62.4% year on year, said the Ministry of Agriculture and Rural Development (MARD).
Vietnam shipped an estimated 24.14 billion USD worth of agro-forestry-fishery products overseas during January-May, up 21% against the same time last year, according to the Ministry of Agriculture and Rural Development (MARD).
Vietnam’s agro-forestry-fishery exports to the Republic of Korea (RoK) have surged thanks to the bilateral Free Trade Agreement (VKFTA), topping 2 billion USD annually during 2016 - 2023, and the Northeast Asian country is forecast to remain an attractive market in the coming time.
With trade promotion activities intensified, the agro-forestry-fishery sector is able to earn 54-55 billion USD in export revenue this year as assigned by the Prime Minister, according to Deputy Minister of Agriculture and Rural Development Phung Duc Tien.
Vietnam earned some 9.84 billion USD from agro-forestry-fishery exports in the first two months of this year, representing a year-on-year rise of 50.3%, and a trade surplus of 2.68 billion USD, up nearly 2.9-fold, the Ministry of Agriculture and Rural Development reported.
Vietnam’s agro-forestry-fishery exports reached over 53 billion USD in 2023, posting a record trade surplus of 11 billion USD, or over 42.5% of Vietnam’s total trade surplus.
Vietnam, together with China and some other Asian countries, is among the 20 countries with the fastest economic growth over the last 10 years, according to Yahoo Finance.
After a period of stagnation caused by the COVID-19 pandemic, many farm produce of Vietnam have recorded speedy growth in export to China so far this year and the shipments are predicted to keep increasing in the time ahead.
Vietnam earned more than 43 billion USD from agro-forestry-fishery exports in the first 10 months of 2023, a decrease of 4.2 percent over the same period last year.
Vietnam ran a surplus of 9.3 billion USD in agro-forestry-fishery trade during January – October, up 26.2% from the same time last year, according to the Ministry of Agriculture and Rural Development (MARD).
Vietnam is currently a major producer of agricultural products, an achievement greatly attributable to science and technology, according to the Ministry of Agriculture and Rural Development (MARD).
Agro-forestry-fishery exports reeled in about 38.48 billion USD in the first nine months, of which 22.1% came from China - Vietnam’s biggest market of the products.
Agriculture has affirmed its role as an important pillar of the economy, helping build an independent and self-reliant economy with active, intensive, and effective integration into the world and bring a prosperous and happy life to people, according to Prime Minister Pham Minh Chinh.
Agro-forestry-fishery exports stood at over 49 billion USD in the first 11 months of 2022, higher than last year’s record of 48.6 billion USD, the Ministry of Agriculture and Rural Development said.
Agro-forestry-fishery exports stood at about 49.04 billion USD in the first 11 months of 2022, higher than last year’s record of 48.6 billion USD, the Ministry of Agriculture and Rural Development (MARD) said.
Thanks to the UK-Vietnam Free Trade Agreement (UKVFTA), Vietnam’s agro-forestry-fishery exports to the European nation now enjoy many advantages which, however, also come with several challenges.