Agricultural sector’s trade surplus reaches 16.5 billion USD: Deputy Minister
WVR/VNA - Vietnam recorded a trade surplus of 16.46 billion USD in agricultural, forestry, and aquatic products during the first 11 months of 2024, soaring 52.8% year on year, reported the Ministry of Agriculture and Rural Development.
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| Vietnam earned 56.74 billion USD from exporting agricultural, forestry, and aquatic products during the first 11 months of 2024. (Source: baolaichau) |
Deputy Minister Phung Duc Tien said these commodities brought home about 5.3 billion USD in export value in November, up 13.9% from the same period last year. That contributed to the 11-month revenue of 56.74 billion USD, representing a year-on-year increase of 19%.
During January-November, forestry products posted a surplus of 13.05 billion USD, aquatic products 6.88 billion USD, and agricultural ones 4.72 billion USD, respectively rising 18.7%, 17.5% and 3.1 times year-on-year.
Seven groups of products enjoyed a trade surplus of over 1 billion USD. Among them, timber and wood products saw 12.11 billion USD in surplus, up 19.4% from a year earlier; fruits and vegetables 4.56 billion USD, up 33.9%; coffee 4.53 billion USD, up 30.5%; rice 4.07 billion USD, up 14.6%; shrimp 3.19 billion USD, up 20.5%; tra fish 1.72 billion USD, up 10.1%; and peppercorn 1.07 billion USD, up 43.5%.
Over the 11 months, farm produce generated 29.78 billion USD from overseas shipments, growing 23.2% year on year. Meanwhile, exports of livestock, aquatic, and forestry products respectively increased 4.4%, 11.8%, and 19.6% to reach 475.5 million USD, 9.2 billion USD, and 15.59 billion USD, statistics show.
Tien said Asia was the largest market of agricultural, forestry, and aquatic products from Vietnam, accounting for 48.2% of total exports during the period. It was followed by the Americas with 23.7% and Europe with 11.3%.
Shipments to Asia, the Americas, Europe, Africa, and the Oceania respectively went up 16.1%, 23.6%, 30.4%, 4.4%, and 13.9%.
The US, China, and Japan were the top three destinations of the Vietnamese products as they imported 21.7%, 21.6%, and 6.6% of the total. Exports to these markets climbed 24.6%, 11%, and 5.5%, respectively, against the same period of 2023, according to the Ministry.
(Source: WVR/VNA)
