International Business News – According to statistics from Vietnam’s Ministry of Agriculture and Rural Development, the country’s import and export of agricultural, forestry and aquatic products reached $74.7 billion in the first nine months of 2022, up 10.7 percent year-on-year, with a trade surplus of $6.9 billion in agricultural, forestry and aquatic products.
Vietnam’s Ministry of Agriculture and Rural Development said that in the first nine months of 2022, the country’s imports and exports of agricultural, forestry and aquatic products reached $74.7 billion, up 10.7 percent year-on-year. Among them, exports amounted to about US$40.8 billion, up 15.2 percent, and imports amounted to about US$33.9 billion, up 5.7 percent. Agriculture, forestry and aquatic products achieved a trade surplus of $6.9 billion, doubling year-on-year.
In September 2022, the country’s exports of agricultural, forestry and aquatic products reached $4.2 billion, up 28.7% year-on-year and down 8.8% from a year earlier. Among them, exports of major agricultural products reached $1.8 billion, exports of major forestry products $1.3 billion, exports of aquatic products $900 million and exports of farmed products $26.5 million.
In the first nine months of 2022, exports of major agricultural products reached $16.8 billion, up 7.5 percent; exports of major forest products reached $13.3 billion, up 10.8 percent; exports of aquatic products reached $8.5 billion, up 38 percent; exports of raw materials for production reached nearly $1.9 billion, up 49.6 percent; and exports of farmed products reached $26.55 million, down 18.4 percent.
So far, the entire agricultural industry exports exceeded $2 billion in seven major products, including coffee, rubber, rice, fruits and vegetables, cashew nuts, shrimp, and wood products.
Exports increased over the same period: coffee 3.1 billion U.S. dollars (up 37.6%); rubber 2.3 billion U.S. dollars (up 7.8%); rice 2.6 billion U.S. dollars (up 9.3%); pepper 774 million U.S. dollars (up 7.7%); cassava and its products more than 1 billion U.S. dollars (up 21%); Chayote 1.9 billion U.S. dollars (up 83.3%), shrimp 3.5 billion U.S. dollars (up 24.8%) ), wood and wood products 12.4 billion U.S. dollars (up 11.4%), etc.
Exports decreased compared to the same period: exports of vegetable and fruit products of about $2.5 billion (down 11.1%); cashew nuts of $2.3 billion (down 14%); farmed products of $265.5 million (down 18.4%), etc.
Regarding export markets, the United States continues to be Vietnam’s largest export market with exports amounting to $10.5 billion (25.8% of the market share); followed by the Chinese market with $7.4 billion (18.2%); third is the Japanese market with $3.1 billion (7.6%); and fourth is the Korean market with $1.9 billion (4.7%).