AsemconnectVietnam - According to the data from the Ministry of Agriculture and Rural Development, in the first 4 months of 2024, Vietnam's total agricultural, forestry and fishery export turnover was estimated to reach 19.06 billion USD, up by 23.7% over the same period last year.

In April of 2024, the export value of agricultural, forestry and fishery products reached 5.14 billion USD, an increase of 19.7% compared to April of 2023. Of which, the exports of the main agricultural products reached 2.83 billion USD (up by 29.2%), forestry products reached 1.39 billion USD (up by 18.6%), livestock reached 40.8 million USD (up by 5.9%); seafood alone reached 730 million USD (down by 1.5%).
Overall, in the first 4 months of 2024, the total export turnover of agricultural, forestry and fishery products was estimated to reach 19.06 billion USD, up by 23.7% over the same period last year.
In general, in the past 4 months, the exports of several groups increased, so the total export turnover increased. Contributing to this result were agricultural products 10.44 billion USD, up by 32.5% over the same period last year; forestry products 5.18 billion USD, up by 22.8%; seafood 2.68 billion USD, up by 4.2%; and livestock 152 million USD, an increase of 3.6%.
Most key products are higher than the same period last year such as: Wood and wood products reached 4.84 billion USD, an increase of 23.7%; coffee 2.57 billion USD, up by 57.9%; rice 2.08 billion USD, up by 36.5%; Cashew nuts reached 1.16 billion USD, up by 21.2%; fruits and vegetables 1.8 billion USD, up by 32.1%; shrimp 937 million USD, an increase of 5.9%.
Many items had a significant increase in average export prices such as rice reached 644 USD/tonne, an increase of 22.2%; coffee 3,402 USD/tonne, up by 49.7%; rubber 1,487 USD/tonne, up by 6.9%; pepper 4,214 USD/tonne, up by 36.4%; cashew nuts alone are 5,375 USD/tonne, down by 8.4%; tea exports 1,632 USD/tonne, down by 2%.
Regarding the market, export value to all markets increased. Among them, the exports to Asia increased by 19.8%; to America increased by 24.6%; to Europe increased by 38.6%; to Oceania increased by 26% and to Africa 332 million USD, increased by 33.3%.
The United States, China and Japan continued to be the three largest import markets for Vietnam’s agricultural, forestry and fishery products. Specifically, the export value to the United States accounted for 20.1%, an increase of 25.7%; to China accounted for 18.9%, an increase of 15.1% and to Japan accounted for 6.9%, an increase of 9.6%.
Also in the first 4 months of this year, Vietnam's agricultural, forestry and fishery product imports reached 14.32 billion USD.
Thus, the trade surplus value of the entire agriculture, forestry and fishery industry in the first 4 months of this year was 4.74 billion USD, an increase of 71.5%.
Exports of wood and wood products in April and the first 4 months of 2024
In the first 4 months of 2024, wood and wood product exports were estimated to reach 4.8 billion USD, up by 23.7% over the same period of 2023.
According to the data from the General Department of Customs, it is estimated that in April of 2024, the country’s export turnover of wood and wood products reached 1.3 billion USD, an increase of 0.2% compared to March of 2024 and an increase of 19.4 % compared to April of 2023. Of which, wood product export turnover was estimated at 893 million USD, up by 0.7% compared to March of 2024, and up by 14.1% compared to April of 2023.
In general, in the first 4 months of 2024, the exports of wood and wood products were estimated to reach 4.8 billion USD, an increase of 23.7% over the same period of 2023. Of which, the export turnover of wood products was estimated to reach 3.3 billion USD, an increase of 25.8% over the same period of 2023.
Mr. Do Xuan Lap - Chairman of the Vietnam Timber and Forest Products Association said that the consumption of goods in many large markets such as the US and Europe is receiving gradually better signs. This promotes an increase in export orders, including wood and wood products. Accordingly, the export activities of the wood industry in the first 4 months of 2024 recorded a positive growth rate. With the current growth momentum, it is forecast that the wood industry will have many positive prospects in 2024.
With Vietnam's position in the group by of countries with the world's leading wood export proportion, Vietnam's wood industry has expanded export markets, penetrating deeper into important markets such as the US, EU, South Korea, Japan and increasingly present in emerging markets such as UAE, India, etc.
With many strengths in forestry development, business support policies and free trade agreements, Vietnam's export of wood and wood products has achieved much success in the international market. Vietnam's wood industry is well positioned to take advantage of strong demand from domestic and international markets. At the same time, businesses are investing in new technology and digital transformation to develop new products and services, improve competitiveness, increase efficiency and productivity.
Despite many advantages, the wood industry still faces many difficulties as Vietnam's main export markets increasingly require strict control of wood origins to ensure legality, without affecting recession, deforestation, green production, reduction of greenhouse gas emissions, etc. The risk of trade fraud and fake origin of goods is increasing; complicated trade competition is also a big challenge for Vietnamese wooden furniture exporters.
In addition to objective factors, the internal capacity of businesses is also limited as most businesses mainly process according to orders and designs of foreign distributors. The production and exports have grown continuously for many years but rely on cheap labor and raw materials, the added value of products is not high. Most businesses are small in scale and do not have enough capacity to build brands; poor resistance to sudden and continuous fluctuations from the market. Products are rarely distributed directly to customers but must go through distribution channels and foreign businesses.
Accordingly, for the wood industry to develop sustainably, in addition to meeting regulations and standards on origin and environment, Vietnam's wood and furniture industry must focus on investing in design, creativity, and innovation in high added value of the product.
Notably, in recent times, many wood industry enterprises have quickly researched market trends and converted from processing for export to designing new, beautiful and good quality designs that many customers appreciated. This is a good sign that Vietnam's wood processing and furniture industry is on the right track, not only to increase export turnover but also gradually enhance the position and brand of Vietnam's furniture industry in the international market.
From a market perspective, Mr. Nguyen Liem - Chairman of Binh Duong Wood Processing Association commented that the US is always the main export market of the wood industry, increasing exports to the US market contributes to promoting the wood industry to achieve positive results in 2024, because export turnover to the US accounts for 53.5% of total export turnover of wood and wood products.
The significant recovery in export turnover of wood and wood products to the US market in the first months of 2024 was thanks to increased market demand and reduced inventory. US importers highly appreciate and identify Vietnam as a supply market for wood and wood products, especially the important wooden furniture group by in the world. That is clearly shown when the US is Vietnam's largest import market for wood and wooden products and Vietnam is the number 1 wooden furniture supplier to the US. This will be the foundation for exports to make a breakthrough in this market if businesses know how to take advantage of the opportunity.
However, focusing too much on one main market is Vietnam's weakness. The proof is that when the US market's consumption demand decreases, Vietnam's export value also decreases a lot. Therefore, Vietnamese wood industry enterprises need to continue to diversify and gradually increase the proportion of exports to other potential markets to minimize risks.
Measures to maintain the growth momentum of agricultural, forestry and fishery exports
To continue to maintain good growth momentum in exports, the Ministry of Agriculture and Rural Development said it will handle market issues to create favorable conditions for exporting agricultural and aquatic products; especially to markets: China, the United States, Japan, and the EU as well as to open new markets with much potential such as Halal Muslim countries, the Middle East, Africa, etc.
Besides, the ministry will also take advantage of Free Trade Agreements (FTAs), especially the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Vietnam-EU Free Trade Agreement (EVFTA) to promote the exports of key agricultural, forestry and fishery products, and support businesses in signing new export orders. The Ministry also coordinates with ministries and branches to support trademark and geographical indication protection for Vietnam's potential export products abroad.
CK
Source: VITIC/congthuong.vn