Farmers in the Central Highlands province of Dak Lawk harvest bananas for export. — VNA/VNS Photo Hong Diep
Agro-forestry-aquatic product exports were estimated at US$20.26 billion in the first five months of 2023, down 11.1 per cent year on year, according to the Ministry of Agriculture and Rural Development (MARD).
Meanwhile, the country's imports also dropped 8.7 per cent to $13.15 billion, resulting in a five-month trade surplus of $3.55 billion, falling 21.1 per cent from a year earlier.
In May alone, exports stood at $4.85 billion, down 3.5 per cent from the same period last year, statistics showed.
The MARD said shipments to major markets such as China, Japan, and other Asian countries were gradually regaining growth. However, due to global economic uncertainties, high inflation in some developed countries, and tightened monetary policy in some big markets like the US and EU, businesses were seeing difficulties in seeking and fulfilling orders.
Of the five-month export revenue, farm produce brought home $10.3 billion, up 9.9 per cent; animal products $190 million, up 34.5 per cent; aquatic products $3.47 billion, down 25.9 per cent; and forestry products $5.52 billion, down 26.8 per cent.
Many products recorded higher export values than in the same period last year, including rice up 49 per cent, fruits and vegetables up 39 per cent, cashew nuts up 5.5 per cent, meat and by-products up 59 per cent, and coffee up 0.2 per cent.
Meanwhile, some products witnessed declines, such as rubber down 24 per cent, tea down 19 per cent, peppercorn down 10 per cent, cassava, and related products down 14.3 per cent, tra fish down 40.7 per cent, shrimp down 34.4 per cent, and timber and wood products down 27.3 per cent.
Viet Nam posted growth only in exports to Asia, up 2.3 per cent. In contrast, shipments to others decreased, including the Americas down 34.6 per cent, Europe down 13.2 per cent, Africa down 5.6 per cent, and Oceania down 28 per cent.
China, the US, and Japan remained the biggest markets of agro-forestry-aquatic products from Viet Nam during the five months. Exports to China accounted for 20.4 per cent of the total, rising 2.9 per cent year on year; the US 19.8 per cent, down 35.2 per cent; and Japan 7.8 per cent, down 1.2 per cent, the MARD noted. — VNS