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Tuesday, June 25, 2024

Exports of agro-forestry-fishery products at record high

The Saigon Times

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HCMC – Vietnam’s agro-forestry-fishery product exports have reached an unprecedented milestone, at a remarkable US$53 billion in revenue this year.

This achievement has catapulted the nation to enjoy its highest trade surplus, amounting to US$12.1 billion, constituting 42.5% of the country’s total trade surplus.

Phung Duc Tien, Deputy Minister of Agriculture and Rural Development, disclosed this information during a press conference on December 29, which focused on reviewing the 2023 activities and discussing the 2024 plans for the agricultural sector.

Tien emphasized that, despite numerous challenges in export markets for agro-forestry-fishery products, the entire sector has achieved an impressive gross domestic product (GDP) growth rate of 3.83%, a record high over the past decade.

Of particular note, the export of vegetables and fruits surged by 69%, resulting in revenues of US$5.69 billion, while rice exports witnessed a substantial increase of 38%, reaching US$4.78 billion compared to the previous year.

Furthermore, exports of four other key products exceeded the US$3 billion mark, with cashew nuts reaching US$3.63 billion, coffee at US$4.18 billion, shrimp at US$3.38 billion, and wood and wooden products at US$13.37 billion.

Although the export revenue for agro-forestry-fishery products fell short of the government’s target, several products demonstrated impressive growth. For example, durian exports generated a remarkable US$2.25 billion in revenue, a five-fold increase from 2022. ST25 rice has also been recognized as the world’s best for the second consecutive time.

Deputy Minister of Agriculture and Rural Development mentioned that while the U.S. was Vietnam’s largest buyer in 2022, China has surpassed the U.S. in 2023 to account for the largest market share of exports at 22%.

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