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Vietnam's agro-forestry-fishery exports reached US$3.4 billion in July

10:26 | 30/07/2020

Vietnam's agro-forestry-fishery exports reached US$3.4 billion in July, up 4.6% from the previous month. Meanwhile, according to the Ministry of Agriculture and Rural Development (MARD), the sector recorded a trade surplus of approximately US$5.2 billion, an increase of 3.8% on-year. 

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vietnams agro forestry fishery exports reached us 34 billion in july
The forestry and fishery sector have recovered (Photo: Hanoi Moi)

This data was released by the MARD and it showed that the forestry and fishery sector have recovered while regaining export growth momentum, according to VOV

Furthermore, the export value of major forestry products was USD 1.1 billion, up 9.8%. Meanwhile, aquatic products reached USD 780 million, up 8.4%. 

Exports of primary farm products were estimated at US$1.4 billion, down 1.0%, with husbandry at US$33 million, a drop of 2.7%.

The total export-import turnover of Vietnam's agro-forestry-fishery was an estimated US$39.5 billion during the first seven months of the year.

vietnams agro forestry fishery exports reached us 34 billion in july
The total export-import turnover of Vietnam's agro-forestry-fishery was an estimated US$39.5 billion (Photo: Nha Nong Xanh)

According to the MARD, the agriculture sector continues to promote the efficiency of restructuring plants and animals, open up resources for developing production, processing and consumption of agricultural products. 

The agreement between the European Union and Vietnam on forest law enforcement, forest governance and forest product trade is a great opportunity to increase the export of wood products of Vietnam into Europe. Besides, the implementation of the European Union - Vietnam Free Trade Agreement (EVFTA) opens up great opportunities and prospects for Vietnamese agricultural products, reported by Financial Magazine

However, the difficulties from the Covid-19 have affected production, import and export, as well as domestic consumption.

The MARD expects the growth plan of the whole country to reach 2.6-3%, of which, agriculture increases by 2.85%; fishery increased by 3.0%; forestry increased by 2.57%. At the same time, it strives to reach the total export turnover of agriculture, forestry and fisheries in 2020 about 41 billion USD.

vietnams agro forestry fishery exports reached us 34 billion in july
The MARD expects the growth plan of the whole country to reach 2.6-3% (Photo: Bnews)

This comes despite the increase in export value of the fishery sector during the seven months of the year, with shrimp exports climbing to USD 2 billion, up 21.1%. Elsewhere, tra fish suffered a drop in export value of USD 828 million, a steep decline of 26.9%. 

Strong growth can be observed in shipments of rice, which totaled US$1.9 billion, a rise of 10.9%, vegetables at US$414 million, up 9.6%, cassava at US$107 million, an increase of 101.8%, and cinnamon at US$110 million, up 15.4%.

Several key commodities witnessed a sharp decrease in terms of export value, such as rubber, tea, pepper, and fruits.

Overall, China holds the largest market share with export turnover reaching US$5.4 billion, a decline of 11.1%, whilst accounting for 24.1% of the country’s overall market share, followed by the United States, the EU, and ASEAN.

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