Vietnam's Agriculture, Forestry, and Fisheries Exports Post Significant Growth

Strategic Insights -

Vietnam's exports of agriculture, forestry, and fisheries products reached 39.68 billion USD in the first seven months of the year, reflecting a 14.7% year-on-year increase, with a corresponding trade surplus of 11.52 billion USD, up 15.9%. The growth was driven by a range of products, including agricultural products, forestry products, and seafood. Among these, coffee exports saw a remarkable 65.1% value increase to 6 billion USD, while cashew nut exports grew by 17.4% to 2.79 billion USD. Additionally, pepper exports experienced a nearly 30% value increase to almost 1 billion USD, largely due to a significant spike in average price. Rubber exports also witnessed a 13.9% increase in value to 1.61 billion USD.

Key Takeaways:

  • Vietnam's exports of agriculture, forestry, and fisheries products increased by 14.7% to 39.68 billion USD in the first seven months of the year.
  • The trade surplus grew by 15.9% to 11.52 billion USD.
  • Agricultural products led the growth, with exports valued at 21.49 billion USD, up 17%.
  • Forestry products exports grew by 8.6% to 10.38 billion USD.
  • Seafood exports increased by 13.8% to 6.06 billion USD.
  • Coffee exports soared by 65.1% to 6 billion USD, driven by a 53% increase in average price per tonne.
  • Cashew nut exports increased by 17.4% to 2.79 billion USD.
  • Pepper exports saw a nearly 30% value increase to almost 1 billion USD.
  • Rubber exports grew by 13.9% to 1.61 billion USD.
  • Rice exports declined by 15.9% to 2.81 billion USD, due to an 18.4% drop in price.
  • Shipment to China fell by 24.3%, while exports to the US surged by 65.5%.
  • Six product categories generated a surplus of over 1 billion USD, led by wood products (7.7 billion USD) and coffee (5.78 billion USD).
  • Asia remained Vietnam's largest export market, accounting for 42.6% of the total value, followed by Europe, which saw a 43.1% increase in exports.
  • The US, China, and Japan were the top three individual markets.

Statistics:

  • Exports of agriculture, forestry, and fisheries products reached 39.68 billion USD in the first seven months of the year.
  • The trade surplus grew by 15.9% to 11.52 billion USD.
  • Agricultural products exports increased by 17% to 21.49 billion USD.
  • Forestry products exports grew by 8.6% to 10.38 billion USD.
  • Seafood exports increased by 13.8% to 6.06 billion USD.
  • Coffee exports reached 6 billion USD, a 65.1% increase from previous figures.
  • Cashew nut exports reached 2.79 billion USD, a 17.4% increase.
  • Pepper exports reached almost 1 billion USD, a nearly 30% increase.
  • Rubber exports grew by 13.9% to 1.61 billion USD.

Sources:

  • Vietnam's Ministry of Agriculture and Rural Development.