December 5, 2022

The agricultural sector experiences a large trade surplus in the first quarter

VIETNAM, May 9 –

Aquatic exports saw the strongest growth with 43.7% in the first four months of this year, reaching $3.6 billion. — Photo

HÀ NỘI — Việt Nam recorded the biggest trade surplus ever, about $4 billion, in the first four months of this year, 3.2 times more than the previous year, according to the Ministry of Foreign Affairs. Agriculture and Rural Development (MARD).

The total trade value of agricultural, forestry and seafood products reached 31.8 billion U.S. dollars in the first four months, a year-on-year increase of 7 percent, the ministry said.

Of that amount, exports were worth $17.9 billion, up 15.6% year-on-year, while imports totaled $13.9 billion, down 2.3%.

Aquatic exports grew the most during the period at 43.7% to $3.6 billion. Shipments of major agricultural and forestry products topped $7.4 billion and $5.9 billion, up 10.5% and 4.9%, respectively. Meanwhile, those for livestock products fell 19% year-on-year to $105.4 million.

Five export products with revenues exceeding $1 billion are coffee, rice, fruits and vegetables, shrimp and wood products.

Notably, coffee and shrimp exports amounted to $1.7 billion and $1.3 billion, an annual increase of 59.4% and 38.6% respectively. Export value of tra fish rose 89.6% to $894 million.

The United States remained the largest export market for Việt Nam’s agricultural, forestry and seafood products with nearly $4.9 billion, or 27.3% of total exports. About 68.2% of Việt Nam’s exports to the United States were wood and wood products.

China came second with more than $3.2 billion, or 18.1% of total shipments.

The third was Japan with a turnover of almost 1.3 billion dollars, accounting for 7.1% of total exports. The fourth largest export market was South Korea, with a value of $822 million.

To expand markets and boost exports, MARD would encourage bilateral and multilateral cooperation activities. The ministry is preparing to organize a trade delegation to promote the supply of fruits and seafood in China.

At the same time, MARD will focus on negotiating and completing risk assessment and inspection procedures to promote the export of mango and chicken meat to South Korea, pomelos and lemongrass to New Zealand; feathers, bird’s nest and bird’s nest products, milk and milk products to China; and honey to the EU.

The ministry will also visit pomelo growing areas and irradiation plants to discuss with partners pomelo export plans to the United States.

MARD has also directed the departments of agriculture and rural development to monitor and report on prices, production and supply of agricultural products to localities to strengthen support for processing, domestic consumption and export, particularly at border posts. In particular, the ministry will provide information on market regulation and import and export control between Việt Nam and China.

Nguyễn Quốc Toản, director of the Department of Agricultural Commodity Processing and Market Development under MARD, said that in April, the department worked with the Business Development Department of the Ministry of Planning and Investment to implement digital transformation in small businesses and agriculture at large. sector. This would help this sector and enterprises to become more efficient in production and business, including the export of agricultural, forestry and sea products in the future. —VNS