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Agro-forestry-fishery exports bring US$20.2 billion in Jan-May

The Saigon Times

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HCMC – Vietnam earned around US$20.26 billion from exports of agricultural, forestry and fishery products in the first five months of 2023, down 11.1% year-on-year, according to the Ministry of Agriculture and Rural Development.

The country spent US$13.15 billion importing these types of products, down 8.7% year-on-year, resulting in a trade surplus of US$3.55 billion between January and May, falling by 21.1%.

Some product lines reported the strongest drop in export, such as rubber at US$799 million, falling by 24%; tea at US$65 million, down 18.9%; pepper at US$414 million, sliding by 9.9%; and tra fish at US$690 million, plunging by 40.7%.

Meanwhile, some saw export revenue higher than last year, such as coffee at US$2.02 billion, inching up 0.2%; fruits and vegetables at US$1.97 billion, surging 39%; and meat products at US$58 million, skyrocketing 59%.

Particularly, rice exports experienced the highest growth, reaching US$2.02 billion, up 49.0%.

As of May, exports to major markets such as China, Japan, and other Asian countries had steadily grown.

China, the U.S., and Japan remained Vietnam’s top three export markets for agricultural, forestry and fishery products. Specifically, exports to China accounted for 20.4% of the total, while those to the U.S. made up 19.8%. Exports to Japan amounted to 7.8%.

The value of agricultural, forestry and fishery exports to Asian markets reached US$9.73 billion, up 2.3%, while those to the Americas accounted for US$4.42 billion, down 34.6%. On the other hand, exports to the EU declined 13.2% to only US$2.42 billion.

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