Agro-forestry-fishery trade surplus rises 71.5% in four months
VOV.VN - Vietnam racked up a trade surplus of US$4.74 billion from agro-forestry-aquatic exports during the opening four months of the year, representing a year on year rise of 71.5%, according to the Ministry of Agriculture and Rural Development.
The country earned US$19.06 billion from agro-forestry-aquatic exports throughout the reviewed period, up 23.7% against the same period last year.
Almost all key products enjoyed high export growth, including timber and wood products (up 23.7% to US$4.84 billion); coffee (up 57.9% to US$2.57 billion); rice (up 36.5% to US$2.08 billion); cashew nuts (up 21.2% to US$1.16 billion); fruits and vegetables (up 32.1% to US$1.8 billion); and shrimp (up 5.9% to US$937 million).
Most notably, several items witnessed a significant increase in the average export price, including rice, coffee, rubber, pepper, cashew nuts, and tea.
Exports to the Asian, American, European, Oceania, and African markets edged up by 19.8%, 24.6%, 38.6%, 26%, and 33.3%, respectively.
The United States, China, and Japan all continue to make up the three largest importers of Vietnamese agro-forestry-fishery products, with export value soaring by 25.7%, 15.1%, and 9.6%, respectively.
To maintain the growth momentum, experts have advised local firms to make use of free trade agreement (FTAs) such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the EU- Vietnam Free Trade Agreement (EVFTA), as well as striving to fully tap into emerging markets like the Middle East and Africa, especially Muslim countries which consume Halal products.
