HCMC – Vietnam’s trade surplus in the agriculture, forestry, and fishery sectors soared by 52.8% year-on-year to US$16.46 billion in the first 11 months of 2024, according to data from the Ministry of Agriculture and Rural Development.
Exports in the sector reached US$5.3 billion in November, bringing the 11-month total to US$56.74 billion, surpassing the annual target of US$55 billion.
Agricultural product exports totaled US$29.78 billion, a 23.2% increase compared to the same period last year. Forestry exports rose by 19.6% to US$15.59 billion, while fishery exports climbed by 11.8% to US$9.2 billion.
Key products, including rice, coffee, cashew nuts, and pepper, contributed significantly to the growth, with all showing double-digit increases.
Asia remained the largest market, accounting for 48.2% of export revenue, followed by the Americas at 23.7% and Europe at 11.3%. Exports to Asia picked up by 16.1%, while shipments to the Americas and Europe jumped by 23.6% and 30.4%, respectively.
The U.S. was Vietnam’s largest export market, making up 21.7% of total shipments. China was close behind at 21.6%, with Japan at 6.6%. Exports to the U.S. increased by 24.6%, to China by 11%, and to Japan by 5.5%.
Imports of agricultural, forestry, and fishery products reached US$40.28 billion during the same period, up by 9.1% year-on-year. Agricultural imports edged up by 10.7% to US$25.05 billion, and forestry imports grew by 24.2% to US$2.54 billion. Fishery imports, however, declined by 2% to US$2.32 billion.
China, Brazil, and the U.S. were the top suppliers, accounting for 9.6%, 8.1%, and 7.4% of imports, respectively.
