Business

Five-month agro-forestry-fishery trade surplus nearly 3.3bn USD

The agro-forestry-fishery sector recorded a trade surplus of close to 3.3 billion USD in the first five months of 2020, a decline of a mere 2.3 percent year-on-year.
Five-month agro-forestry-fishery trade surplus nearly 3.3bn USD ảnh 1Processing shrimp exports at Minh Phu Seafood Corporation in Ca Mau (Photo: VNA)

Hanoi (VNA) - The agro-forestry-fishery sector recorded a tradesurplus of close to 3.3 billion USD in the first five months of 2020, a declineof a mere 2.3 percent year-on-year.

According to the Ministry of Agriculture and Rural Development (MARD),shipments overseas during the period brought in nearly 15.5 billion USD, down4.1 percent year-on-year.

Exports of key farm produce, husbandry products, fisheries, and forestryproducts earned approximately 7.4 billion USD, 210 million USD, 2.6 billionUSD, and 4.2 billion USD, respectively. All were down year-on-year, by between1.5 and 19 percent.

Most products saw lower export revenue compared to last year, withearnings for tra fish, rubber, fruit, shrimp, peppercorn, and tea falling sharply.By contrast, shipments of coffee, rice, vegetables, cinnamon, and bamboo and rattanposted higher value.

China remained Vietnam’s largest export market in the January-May period,with 3.7 billion USD. Despite showing a decline of 15.5 percent year-on-year, thefigure accounted for 23.8 percent of Vietnam’s total export value.

Following was the US, with around 3.4 billion USD, the EU with some 1.6billion USD, ASEAN with nearly 1.6 billion USD, and Japan with approximately1.4 billion USD.

MARD forecast that farm produce exports will improve in the time to comebut still face a range of difficulties.

It therefore plans to work closely with the Ministry of Industry and Tradeto monitor domestic prices, ensure a supply-demand balance and food security,and sustain exports. It will also provide regular updates on markets hit byCOVID-19, while focusing on clearing technical barriers and expanding trade withthe EU, the Eurasian Economic Union (EAEU), theUS, and Brazil, among others. Preparations are in place to welcome EU and USinspectors to check on Vietnam’s fight against illegal, unreported andunregulated (IUU) fishing and Vietnamese tra fish safety, respectively.

Meanwhile, the import value of agro-forestry-fishery products in thefirst five months stood at 12.2 billion USD, a decline of 4.5 percentyear-on-year. Apart from vegetable oil, wheat, and husbandry products, allimported goods, particularly fertilizer, pesticides, animal feed, and corn, postedlower value in the period./.
VNA
#agro-forestry-fishery sector #trade surplus #MARD #COVID-19 #IUU #Vietnam trade #Vietnam economy #vietnam News agency #vietnamplus
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