Agro-Forestry-Aquatic Products Achieve Impressive $4.63B Trade Surplus in H1

Agro-Forestry-Aquatic Products Achieve Impressive $4.63B Trade Surplus in H1

According to the Ministry of Agriculture and Rural Development (MARD), Vietnam’s agro-forestry-aquatic product exports generated a total of $24.59 billion in revenue during the first half of 2023. Meanwhile, imports amounted to $19.96 billion. Among the top five products with the highest trade surplus were wood and wood products, which achieved a surplus of $4.95 billion, a decrease of 27.9% compared to the same period last year. Coffee recorded a surplus of $2.33 billion, an increase of 2.1%, while fruits and vegetables saw a substantial increase of 2.3 times, resulting in a surplus of $1.85 billion. Rice also experienced growth, with a surplus of $1.84 billion, up by 36.3%. However, shrimp witnessed a decline, with a surplus of $1.28 billion, down by 36.6%.

In terms of product categories, the agricultural sector contributed $12.79 billion in revenue, reflecting a 12% increase in the first half of the year. On the other hand, aquatic and forestry products experienced significant declines, with export values of $4.13 billion (down 27.4%) and $6.5 billion (down 28.2%) respectively. Vietnam’s export market for agro-forestry-aquatic products was dominated by China, the US, and Japan. While exports to China grew by 7.7%, exports to the US and Japan decreased by 32.9% and 5.3% respectively. Notably, Vietnam had only seven products and product groups that achieved export values exceeding $1 billion each, including coffee, rubber, rice, fruits and vegetables, cashew nuts, shrimp, and wood products.

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