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Vietnam Today

8M agriculture trade in surplus by $4.5bn

Released at: 14:29, 29/08/2017

8M agriculture trade in surplus by $4.5bn

Illustrative image (Source: agritrade.com.vn)

Exports in agriculture, forestry, and fishery sector reach $23.66 billion in first eight months while imports at more than $19 billion.

by Hai Van

Agriculture, forestry, and fishery export turnover in August is estimated at $3.1 billion, according to the Ministry of Agriculture and Rural Development, bringing the figure in the first eight months to $23.66 billion, up 13.5 per cent year-on-year.

Imports, meanwhile, stood at more than $19 billion, for a trade surplus in the sector of $4.5 billion.

The import value of agricultural products was $12.6 billion, up 17.2 per cent, forestry $5.07 billion, up 9.6 per cent, and fishery $5.13 billion, up 18.1 per cent.

Key export items increased in quantity and value in August, including rice, seafood, and rubber.

Rice exports reached 504,000 tons worth $220 million, for an eight-month figure of 3.96 million tons worth $1.75 billion, up 19.8 per cent and 17.5 per cent, respectively, year-on-year.

China again ranked first among destinations for Vietnamese rice, with a 40.9 per cent market share. Malaysia followed, with 7.3 per cent, up 2.08-fold in volume and 78.3 per cent in value year-on-year.

Exports of fruit and vegetables reached a record high, estimated at $296 million, in August, for an eight-month figure of $2.32 billion, up 46.5 per cent over the same period last year. China, Japan, the US, and South Korea were the top four importers of Vietnamese fruit and vegetables, accounting for 85.1 per cent of the total value of vegetables.

Exports of rubber in August stood at 160,000 tons worth $243 million, bringing the figure in the first eight months to 795,000 tons and $1.36 billion, up 11.2 per cent and 52 per cent, respectively, year-on-year.

Coffee exports reached 1.02 million tons worth $2.33 billion, down 19.9 per cent in volume but up 3 per cent in value year-on-year.

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