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Agro-forestry-fishery trade surplus reaches US$6.4 billion in Jan-Aug

The Saigon Times

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HCMC – The agricultural, forestry and fishery sector’s trade surplus in the first eight months of 2022 amounted to US$6.4 billion, the Ministry of Agriculture and Rural Development reported.

The sector’s January-August exports rose 13.1% againts the same period last year to US$36.3 billion, while its imports inched up 3.9% to US$29.9 billion, leaving a trade surplus of US$6.4 billion.

Phung Duc Tien, deputy minister of Agriculture and Rural Development, told a press briefing on September 5 that the trade surplus in agriculture, forestry and fishery products grew nearly two-fold compared to 2021.

The January-August period saw shipments of key agricultural products totaling US$15 billion, up 7.4% year-on-year, forestry products rising by 6.2% to US$11.8 billion, and aquatic exports soaring 35.3% to US$7.5 billion. 

There were five items generating export revenue of over US$2 billion each, namely coffee, rice, shrimp, rubber and wood and wooden products. 

The export value of Vietnam’s agriculture, forestry and fishery products to markets in Asia accounted for 43.1% of the total, followed by the Americas (28.9%) and Europe (11.8%).

The U.S. remained Vietnam’s biggest buyer, with a total import bill of US$8.7 billion. China came second with US$6.5 billion, and Japan third with $US2.7 billion.

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