AsemconnectVietnam - According to the Ministry of Agriculture and Rural Development, Vietnam’s total export turnover of agricultural, forestry and fishery products in the first 6 months of the year reached 29.2 billion USD, up by 19% over the same period of 2023.

Of which, the export turnover of the main agricultural product group reached 15.76 billion USD, an increase of 24.4%; main forest products 7.95 billion USD, up by 21.2%; seafood 4.36 billion USD, up by 4.9%; livestock products 240 million USD, an increase of 3.8%. The export turnover of the production inputs alone were 904 million USD, down by 1.8% and the salt was 2.3 million USD, down by 1.7%.
The groups of items with the export value reaching over 1 billion USD were coffee, rubber, rice, vegetables, cashew nuts, shrimp, wood and wooden products. Of which rice and cashew nuts were two products that increased both in export volume and value. Specifically, rice exports reached 4.68 million tonnes (up by 10.4%), worth of 2.98 billion USD (up by 32%); cashew nuts exported 350,000 tonnes (up by 24.9%), worth of 1.92 billion USD (up by 17.4%).
Coffee alone decreased in volume (reaching 902,000 tonnes), but thanks to the average export price increasing by 50.4%, the export value reached 3.22 billion USD (up by 34.6%).
The agricultural product group continued its growth momentum from 2023 until now, the total export turnover of this product group was estimated to reach 18.37 billion USD, an increase of 19.9% over the same period of 2023, accounting for 9.67% of the country’s total export turnover.
Due to increased export prices, most products in this group achieved high double-digit growth in export turnover compared to the same period last year, such as coffee increased by 34.5% in export value, although the amount of coffee exported decreased by 10.6%; rice only increased by 10.4% in volume but increased by 32% in export value; tea of all kinds increased by 32.1%; vegetables and fruits increased by 28.2%; cashew kernels increased by 17.4%; although pepper decreased by 6.8% in volume, it increased by 30.9% in export value; cassava and cassava products increased by 5.9% in export value although export volume decreased by 7.7%.
Vietnam's main agricultural, forestry and fishery export markets in the first 6 months of 2024
Regarding export markets, the United States, China and Japan continued to be the three largest export markets for agricultural, forestry and fishery products of Vietnam. The export value to the US market accounted for 20.7%, an increase of 20.8%; to China accounted for 20.2%, an increase of 9.5% and to Japan accounted for 6.7%, an increase of 5%.
The 5 items with the highest trade deficit include animal feed and raw materials 2.13 billion USD (up by 17.5%); cotton of all kinds 1.5 billion USD (up by 9%); products from crop products 1.51 billion USD (up by 7.2%); corn 1.17 billion USD (down by 2.2%); wheat 828 million USD (down by 3.6%).
Seafood exports in June and the first 6 months of 2024
The exports of most key seafood products had high growth in June, of which the exports of pangasius increased by 22%, tuna increased by 40%, and crab increased by 59%.
Shrimp products alone increased slightly by 7%.
Squid and octopus were the only products that decreased slightly compared to the same period last year.
Cumulatively in the first 6 months of 2024, seafood exports brought in over 4.4 billion USD, up by nearly 7% over the same period of 2023.
In the first 6 months of this year, shrimp exports reached a value of more than 1.6 billion USD, 7% higher than the same period last year. Of which, the exports of white leg shrimp reached nearly 1.2 billion USD, a slight increase of 3%; the exports of black tiger shrimp reached over 200 million USD, down by 10%. The exports of lobster alone increased 57 times over the same period, reaching more than 130 million USD.
Pangasius exports in the first half of this year reached 922 million USD, up by nearly 6% over the same period last year. Although the demand has improved, the price of pangasius exported to markets was still low, such as to China, EU, UK... Only the US market has a more positive signal in terms of both price and volume of pangasius imports from Vietnam,
Tuna exports in the first half of this year increased nearly 25% to 477 million USD, mainly thanks to the strong increase in the canned and bagged fish segment.
Tuna exports to most markets increased compared to the same period of 2023. Accordingly, the two largest markets, the United States and the EU, accounted for 37% and 22% of Vietnam's tuna exports, respectively, and recorded growth of 30% and 37% over the same period of 2023.
Notably, tuna exports to Israel increased the most, with 64%; to Russia increased by 58%, and to South Korea increased by 66%.
GDP of the agriculture, forestry and fisheries sector in the first 6 months of the year, and forecast for the whole year 2024
In the first 6 months of 2024, the GDP growth rate of the agriculture, forestry and fisheries sector reached 3.38%, the highest in the first half of the last 5 years; the export turnover increased by 19% over the same period last year.
With this result, the Ministry of Agriculture and Rural Development raised the yearly agricultural, forestry and fishery export target to 57-58 billion USD, 2-3 billion USD higher than the target assigned by the Government at the beginning of the year.
The report at the preliminary conference of the first 6 months of 2024 for the entire agriculture, forestry and fishery industry organized by the Ministry of Agriculture and Rural Development showed that the GDP growth rate of the agriculture, forestry and fishery industry in the first 6 months of 2024 reached 3.38 %, the highest in the first half of the year in the last 5 years (GDP growth rate in the first 6 months of the years: 2020 increased by 1.24%, 2021 increased by 3.77%, 2022 increased by 2.78%, 2023 increased by 3.26%).
In the first 6 months of 2924, agricultural GDP increased by 3.15%; forestry GDP increased by 5.34%; fishery GDP increased by 3.76%. The total agricultural, forestry and fishery export turnover in the first 6 months of the year reached 29.2 billion USD, up by 19% over the same period of 2023."
Mr. Le Minh Hoan, Minister of Agriculture and Rural Development, said that the agriculture, forestry and fishery industry strives for a GDP growth rate of the entire industry in 2024 to reach 3.2 - 4.0%, of which the value of cultivation increases of 2.0 - 2.2 %; livestock production value increases of by 4.0 - 5.0%; seafood production value increases of 3.7 - 4.0%; and forestry production value increases of 5.0 - 5.5%".
CK
Source: VITIC/congthuong.vn/vneconomy.vn