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Agri exports at $30 billion

Released at: 11:27, 24/12/2014

Agri exports at $30 billion

Vietnam is expected to record some $30.8 billion worth of agriculture exports in 2014, an 11.2 per cent increase year-on-year.

by Ha Anh

Latest estimates from the Ministry of Agriculture and Rural Development (MARD) show that Vietnam’s total agriculture exports should stand at around $30.8 billion for 2014, with a predicted trade surplus of some $9.5 billion, for an increase of about 7.7 per cent year-on-year.

Vietnam may earn $7.92 billion from exporting aquatic products by the end of the year, up 18.4 per cent.

In terms of markets, the US remains Vietnam’s largest seafood importer, accounting for 21.81 per cent of the total.

Meanwhile, wood and wooden products exports are expected to reach $6.2 billion in 2014, up 11.1 per cent year-on-year. The US, China, and Japan are the country’s three largest timber importers, making up 66 per cent of the total, according to MARD.

Remarkably, coffee exports are witnessing a sharp increase, with an estimated export volume of 1.73 million tons, worth $3.62 billion; an increase of 33.4 per cent in volume and 33.2 per cent in value.

Other products also seeing increases in export value include vegetables, with $1.47 billion, up 34.9 per cent, peppercorn, with $1.2 billion, up 34.1 per cent, and cashew nuts, with $2 billion, up 21.1 per cent.

MARD targets to record $31 billion worth of agri-forestry-aquatic exports in 2015. The ministry said it will actively establish programs to implement signed bilateral and multi-lateral conventions and agreements. Vietnam will also take part in negotiating new free trade agreements, strengthen market development activities, and update information on commercial policies in other countries, MARD said.

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