AsemconnectVietnam - According to the Ministry of Agriculture and Rural Development, the total export turnover of agricultural, forestry and fishery products in the first 10 months reached 51.74 billion USD, an increase of 20.2% over the same period of 2023.

Notably, the trade surplus value increased sharply compared to the same period last year.
Trade surplus increased by 62%
The report of the Ministry of Agriculture and Rural Development showed that the export turnover of agriculture, forestry and fishery in October of 2024 was estimated at 5.91 billion USD, bringing the total export turnover of agriculture, forestry and fishery in the first 10 months of 2024 to 51.74 billion USD, up by 20.2% over the same period of 2023.
By the end of October, Vietnam had 6 agricultural, forestry and fishery products with a trade surplus of over 1 billion USD, including wood and wood products with a surplus of 10.91 billion USD (up by 19.6% over the same period last year); fruit and vegetable with 4.47 billion USD (up by 39.6%); coffee with 4.33 billion USD (up by 38.5%); rice with 3.68 billion USD (up by 13.1%); shrimp with 2.92 billion USD (up by 21.7%) and pangasius with 1.54 billion USD (up by 8.7%).
In 10 months, the export value of agricultural products reached 27.38 billion USD, up by 25.6%; the export value of livestock products reached 423.5 million USD, up by 2.7%; the export value of aquatic products reached 8.33 billion USD, up by 12%; the export value of forestry products reached 14.05 billion USD, up by 19.9%; the export value of production inputs reached 1.56 billion USD, down by 5.7%; and the export value of salt reached 4.6 million USD, down by 0.2%.
All three groups of forestry, aquatic and agricultural products had a trade balance in surplus in the first 10 months of 2024. Specifically, the export value of forestry group was estimated to have a surplus of 11.75 billion USD, up by 18.8% over the same period of 2023; the aquatic products group had a surplus of 6.21 billion USD, up by 17.2% and the agricultural products group had a surplus of 4.67 billion USD, up by 4.2 times. The trade surplus of agricultural, forestry and fishery products in the first 10 months reached 15.21 billion USD, up by 62%. By region, Asia was the largest export market for Vietnam's agricultural, forestry and fishery products with a market share of 48.2%. The next two largest markets were the America and Europe with market shares of 23.5% and 11.5%, respectively. The market shares of the two regions of Africa and Oceania were small, accounting for 1.4-1.8%. Compared to the same period last year, the estimated export value of Vietnam's agricultural, forestry and fishery products in the first 10 months of 2024 to Asia increased by 17.2%; to America increased by 24.7%; to Europe increased by 34.1%; to Africa increased by 2% and to Oceania increased by 14.5%.
Regarding export markets, the United States accounted for 21.6%, China 21.5%, and Japan 6.5%. These are the three largest export markets for Vietnam's agricultural, forestry and fishery products. Compared to the same period last year, the estimated export value of Vietnam's agricultural, forestry and fishery products in the first 10 months of 2024 to the United States market increased by 25.9%, to China increased by 11.4%, and to Japan increased by 5.9%.
Aiming for the target of 60 billion USD
Notably, among agricultural products, rice export output in October was estimated at 800,000 tonnes with a value of 505 million USD, bringing the total output and export value of this item in 10 months to nearly 8 million tonnes with a value of 4.86 billion USD, up by 10% in volume and 23% in value compared to the same period of 2023. According to experts' forecasts, along with the results of 10 months in 2024 and domestic production capacity, rice exports this year are forecast to reach over 8 million tonnes and a value exceeding 5 billion USD.
For fruits and vegetables, export turnover also set a new record when earning more than 6 billion USD in just 10 months, an increase of nearly 32%. It is forecasted that this year's fruit and vegetable exports may exceed 7 billion USD, an increase of nearly 20% compared to last year.
On the other hand, the total import turnover of agriculture, forestry and fishery products in the first 10 months of 2024 reached 36.53 billion USD, up by 8.5% over the same period of 2023. Of which, the import value of agricultural products reached 22.71 billion USD, up by 9.8%; the import value of livestock products reached 3.06 billion USD, up by 6.6%; the import value of aquatic products reached 2.12 billion USD, down by 1%; the import value of forestry products reached 2.31 billion USD, up by 25.4%; the import value of production inputs reached 6.3 billion USD, up by 3.6%; the import value of salt reached 29.2 million USD, down by 21.1%. Commenting on the recent export situation of agricultural, forestry and fishery products, Mr. Phung Duc Tien, Deputy Minister of Agriculture and Rural Development, said that Vietnam currently ranks 2nd in Southeast Asia and 15th in the world in agricultural product exports. This success comes from the foundation of restructuring the agricultural sector over the past decades, building a stable and open market system.
In 2024, the signing of 3 Protocols on the export of frozen durian, fresh coconut and crocodile with China is an important step, helping to expand the market for Vietnamese agricultural products. In addition, trade promotion activities in demanding markets such as the UAE are also being promoted, promising to bring many new opportunities for the agricultural, forestry and fishery sector. "With 2 months left in 2024, if each month our exports may reach 5.5 billion USD, the exports of agricultural, forestry and fishery products in 2024 will reach 60 billion USD. This will be the year with the highest export of agricultural, forestry and fishery products ever. The above results are due to the increase in output and value of products. Agricultural products are increasingly creating high economic value when meeting the criteria and requirements of the export market", said Deputy Minister of Agriculture and Rural Development Phung Duc Tien.
CK
Source: VITIC/ haiquanonline.com.vn