Viet Nam’s agro-forestry-aquatic product export and import turnover was estimated at US$22.6 billion in the first quarter of this year, up 6.3 per cent compared to the same period last year, according to the Ministry of Agriculture and Rural Development (MARD).

Of the figure, around $12.8 billion was in exports, an increase of 15.3 per cent, while about $9.8 billion was from imports, a decline of 3.5 per cent against last year, resulting in a trade surplus of roughly $3 billion, up 3.1 times year-on-year.

In March alone, the export value reached over $4.7 million, up 6 per cent month-on-month and 47.1 per cent year-on-year.

In the January-March period, exports of major farm produce hit nearly $5.5 billion, a rise of 12.8 per cent, while that of significant forestry products reached about $4.3 billion, up 4.4 per cent; aquatic products nearly $2.4 billion, up 38.7 per cent; and animal husbandry roughly $75.6 billion, down 22.4 per cent.

Products enjoying a rise in export revenue included coffee, rubber, rice, pepper, cassava and cassava products, shrimp, tra fish, wood and wooden furniture. Meanwhile, a downturn was seen in the export value of tea and cashew nuts at 12 and 5 per cent, respectively.

Asia remained the largest market for Viet Nam’s agro-forestry-fisheries products with 40.3 per cent of the market share, followed by America and Europe with 29.5 per cent and 13.1 per cent, respectively.

The US was the biggest consumer of the products with over $3.5 billion. China came second with nearly $2.1 billion, and Japan third with almost $872 billion.

To expand export markets, MARD will regularly provide information on prices, output, and production and supply of agricultural products and suggest solutions to remove the congestion of farm produce at the border gates.

The agriculture sector set an export target of $50 billion this year.

Deputy Minister of Agriculture and Rural Development Phung Duc Tien told VOV that some agricultural products with significant advantages, such as tra catfish had increased in orders by over 87 per cent. The members of the Tra Catfish Association of the Mekong Delta provinces cannot meet all the demands.

“The country should take advantage of markets with FTAs and niche markets. With such a comprehensive and synchronous solution, in 2022, we will reach and exceed $50 billion in agricultural product exports,” he said. — VNS