Agro-Forestry-Fisheries Exports Rise 13% in 10 Months

10:54:23 AM | 11/3/2021

Vietnam enjoyed a year-on-year rise of 13.1% in the export revenue of agro-forestry-fisheries products in the first 10 months of 2021 to nearly US$38.75 billion, according to the Ministry of Agriculture and Rural Development (MARD).

In October, exports of the products reached US$3.4 billion, down 15.6% over the same time last year but up 4.2% compared to the previous month.

In January-October period, exports of major farm produce hit nearly US$17.4 billion, a rise of 12.7%, while that of major forestry products reached about US$12.8 billion, up 22.3%, and fisheries products nearly US$6.9 billion, down 0.8%.

Products seeing rise in export revenue included coffee, rubber, rice, vegetables, peppercorn, cashew, cassava and cassava products, livestock, shrimp, wooden furniture, bamboo and rattan products, and cinnamon.

Meanwhile, despite a rise in average export revenue in 10 months, downturn was seen in exports of tea, at 7.2% in volume and 3.4% in value.

In the period, Asia remained the largest market of Vietnam's agro-forestry-fisheries products with 42.8% of the market share, followed by America with 30%, Europe 11.4%, Africa 1.9% and Oceania 1.5%.

The US was the biggest consumer of the products with consumption worth over US$10.8 billion. It was followed by China with nearly US$7.5 billion, and Japan with over US$2.6 billion.

At the same time, imports of agro-forestry-fisheries in 10 months were about US$35.55 billion, up 39.1% year on year.

In order to expand export market, the MARD will continue to increase bilateral cooperation activities with Russia, Switzerland, Cuba, Indonesia and the Republic of Korea, along with multilateral collaboration with trade organisations.

It will also update domestic firms with regulations of foreign markets as well as the supply sources for domestic production.

Source: NDO/VNA