AsemconnectVietnam - In the first 3 months of 2023, Vietnam’s export turnover of agricultural, forestry and fishery products was estimated at 11.19 billion USD, down by 14.4% over the same period last year.

According to the Ministry of Agriculture and Rural Development, the country’s total import-export turnover of agricultural, forestry and fishery products in the first three months of the year was estimated at 20.63 billion USD, down by 11.2% over the same period last year. In which, the exports of agricultural, forestry and fishery products were estimated at 11.19 billion USD, down by 14.4% over the same period last year; and the import value was estimated at 9.44 billion USD, down by 7.2%; the whole industry had a trade surplus of 1.76 billion USD, down by 39.6% over the same period last year.
Particularly in March of 2023, the country’s export turnover of agricultural, forestry and fishery products was estimated at 4.66 billion USD, up by 27.0% compared to February but down by 6.5% compared to March of 2022.
In which, the export turnover of the agricultural products reached 2.42 billion USD (up by 16.3% compared to March of 2022); the exports of forest products reached 1.29 billion USD (down by 22.5% compared to March of 2022), and the exports of aquatic products reached 720 million USD (down by 29% compared to March of 2022) and the export turnover of the animal husbandry reached 47.4 million USD (up by 44.8% compared to March of 2022), the imports of production input reached 182 million USD (down by 3.9% compared to March of 2022) and the export turnover of salt reached 0.4 million USD, down by 29.2% compared to March of 2022).
Generally, in the first three months of the year, many key export products had a decrease in export value compared to the same period last year, so the export turnover was estimated at 11.19 billion USD, down by 14.4% over the same period last year.
In which, the exports of agricultural products reached 5.73 billion USD, up by 3.8%; the exports of forest products reached 3.11 billion USD, down by 28.3%; the exports of seafood reached 1.7 9 billion USD, down by 29.0%; the exports of livestock production reached 115 million USD, up by 46.5%; the exports of production input reached 458 million USD, down by 26.8% and the exports of salt reached 0.9 million USD, down by 31.3%.
Commodities with higher export value compared to the same period last year include: rice with 952 million USD (up by 30.2%); fruits and vegetables with 935 million USD (up by 10.6%); cashew nuts with 708 million USD (up by 14.2%); milk and dairy products with 33.3 million USD (up by 22.2%); meat and by-products 37 billion USD (up by 80.1%).
In the opposite direction, items that decreased in export turnover compared to the same period last year included: coffee with 1.27 million USD (down by 2.3%), rubber with 552 million USD (down by 22.9%), tea with 35 million USD (down by 22.9%), pepper with 239 million USD (down by 3.8%), pangasius with 422 million USD (down by 33.1%), shrimp with 578 million USD (down by 39.4%), wood and wood products with 2.88 billion USD (down by 28.3%), rattan, bamboo and sedge carpet products with 172 million (down by 34.9%).
Regarding the export markets, in the first 3 months of 2023, China was the largest export market with the export value of 2.4 billion USD (accounting for 21.5% of the market share); the United States with 2.04 billion USD (accounting for 18.2%); Japan with an export value of 936 million USD (accounting for 8.4%); and then South Korea with an export value of 528 million USD (accounting for 4.7%).
The total export turnover of agro-forestry-fishery products decreased, the trade surplus decreased compared to the same period last year. According to the Ministry of Agriculture and Rural Development, the reason was the slowing growth of the global economy in 2023; influence from the Russian-Ukrainian military conflict; high inflation in some countries around the world has reduced consumption demand and import demand. In addition, because after the Covid-19 epidemic was controlled, many countries re-exported agricultural products and increased supply in the market; while in the country, many enterprises have not signed new export orders in 2023. This has been forecasted by the Ministry in the last months of 2022.
In order to promote market development, remove barriers, and facilitate domestic consumption and export, in the coming time, the Ministry will focus on removing difficulties and obstacles and minimizing negative impacts of the epidemic and market fluctuations in the country and the world.
The ministry will take advantage of FTAs, especially the CPTPP and EVFTA Agreements to promote the exports of key agricultural, forestry and fishery products, and support enterprises to sign new export orders as well as coordinate to support the protection of trademarks and geographical indications for potential export products of Vietnam abroad.
Besides, the ministry will also prepare to organize a conference of border provinces on trade connection and promotion of agricultural product trade between Vietnam and China (second quarter and third quarter of 2023); participate in a series of events promoting Vietnam's key agricultural products in the UK. The series of international Food and Beverage events in the UK is on the occasion of the 50th anniversary of Vietnam - UK relations (in the second quarter of 2023).
CK
Source: VITIC/congthuong.vn