26.2 C
Ho Chi Minh City
Thursday, July 25, 2024

Farm exports thrive but fishery and forestry crumble in January-July

The Saigon Times

Must read

HCMC – While agricultural and livestock exports gained impressive growth in the first seven months of 2023, the fisheries and forestry sectors struggled.

Agricultural, forestry and fishery exports in July edged up 5.3% over the same period last year to US$4.62 billion, according to data of the Ministry of Agriculture and Rural Development.

Agricultural exports surged 27% against last July to US$2.32 billion while the livestock industry expanded a sharp 35.6% to US$45 million.

However, aquatic exports fell 15% to US$800 million, and the outbound shipments of forestry products dropped 11% to US$1.24 billion.

Vietnam earned some US$29.13 billion from exports of agricultural, forestry and fishery products in the first seven months of 2023, down 9.1% over the same period last year.

The fishery industry faced the most significant setback, with its exports down 25.4% to US$4.95 billion. Similarly, forestry exports slid 25.5% to US$7.79 billion.

Conversely, the agricultural sector demonstrated resilience, with its exports reaching nearly US$15 billion, up 13.2% year-on-year.

Some products reported the strongest rise in export revenue, such as fruits and vegetables at US$3.23 billion, up 68.1%; rice at US$2.58 billion, up 29.6%; cashew nuts at US$1.95 billion, up 9.8%; coffee at US$2.76 billion, up 6%; and livestock products at US$276 million, up 27.4%.

In terms of export destinations, Asian markets took the lead, accounting for US$14.06 billion and expanding by 2.3%. Exports to Africa also grew 14.1% to US$573 million.

However, exports to the Americas plunged 29.2% to US$6.52 billion. European markets also faced challenges, with exports amounting to US$3.29 billion, down by 13.3%. Similarly, exports to Oceania declined 25.6% to US$408 million.

China, the U.S., and Japan remained Vietnam’s top export markets, with China making up 21.9% of Vietnam’s total exports at US$12.68 billion, up 12.5%.

The U.S. contributed 20.4% to Vietnam’s export revenue, totaling US$5.93 billion, down 29.3%. Japan held a 7.6% share, reaching US$4.44 billion, down 6.9%.

More articles


Please enter your comment!
Please enter your name here

Latest articles