Vietnam posts two-fold growth in agricultural trade surplus in 7 months
Vietnam's import-export value of agricultural, forestry and aquatic products reached 58.3 billion USD in the first seven months of 2022, a year-on-year increase of 7.2%, according to the Ministry of Agriculture and Rural Development.
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| Coffee is one of four exports whose value reached over 2 billion USD from January-July 2022. |
Revenue of these exports was estimated at 32.3 billion USD, up 12.2% year-on-year, while imports was estimated at 26 billion USD, up 1.6%.
So far this year, Vietnam has enjoyed about 6.3 billion USD in trade surplus in agriculture, forestry and fishery products, nearly doubling that the same period in 2021.
From January-July, shipments of key agricultural products totalled 13.3 billion USD, up 8.4%. Aquatic exports saw a significant surge of 34.2% to nearly 6.7 billion USD. Forestry exports also increased 1.3% to 10.4 billion USD during the period.
There were four exports whose value reached over 2 billion USD, namely coffee, rice, shrimp, and wood products.
Exports posting high growth included coffee (46.2%), rubber (7%), rice (9%), pepper (11.7%), tra fish (83.6%), and shrimp (26.2%).
In the reviewed period, the export value of Vietnam's agriculture, forestry and fishery products to markets in Asia accounted for 42.4% of the market share, followed by the Americas (29.3%), Europe (11.9%), Oceania (1.7%), and Africa (1.6%).
The US remained Vietnam’s biggest buyer, purchasing nearly 8.7 billion USD worth of the products, or 26.8% of the total.
It was followed by China, with import value of 5.7 billion USD, accounting for 17.8 percent of the total.
(Source: VNA)
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