Agricultural import-export surplus reaches 15.21 billion USD

The export turnover of agricultural, forestry and fishery products in the first 10 months of 2024 reached about 51.74 billion USD. The trade surplus of this industry achieved a growth rate of 62.2% compared to last year.

According to the statistical report of the Ministry of Agriculture and Rural Development, by the end of October 2024, the export turnover of agricultural, forestry and fishery products of Vietnam reached about 51.74 billion USD, an increase of 20.2% over the same period last year. Meanwhile, the import turnover of this group of products reached about 36.53 billion USD, an increase of 8.5% over the same period.

Thus, in the first 10 months of 2024, the trade balance of Vietnam’s agriculture, forestry and fishery sector is estimated to reach a surplus of 15.21 billion USD, an increase of 62.2% over the same period in 2023.

Considering specific commodity groups, in the past 10 months, there were 6 groups of Vietnamese export goods with a surplus of over 1 billion USD, including wood and wood products, vegetables, coffee, rice, shrimp, and pangasius.

Of these, wood and wood products recorded the strongest growth with export turnover reaching 13.2%, up 20.9%; followed by vegetables and fruits (turnover of 6.34 billion USD, up 31.5%); rice (4.86 billion USD, up 23.4%) and coffee (4.6 billion USD, up 40.1%).

In contrast, other groups of goods such as animal feed and raw materials; agricultural products; cotton of all kinds; meat and meat by-products… recorded a trade deficit of over 1 billion USD.

In terms of import and export markets, the United States, China and Japan are currently the three largest import markets for Vietnam’s agricultural, forestry and fishery products. The proportion of export turnover to these markets in the past 10 months was 21.6%; 21.5% and 6.5%, respectively.

Currently, China and the United States are also the main markets for agricultural, forestry and fishery products exported to Vietnam. The export market shares of these two markets to Vietnam are 9.6% and 7.7% respectively.

Source: https://thoibaonganhang.vn/thang-du-xuat-nhap-khau-nong-san-dat-1521-ty-usd-157388.html