Agro-forestry-fishery trade surplus reaches $8.28 bln in 1H

Agro-forestry and fishery exports earned $29.2 billion in the first six months of 2024, a year-on-year rise of 19%, according to the Ministry of Agriculture and Rural Development (MARD).

Meanwhile, the sector’s import value was estimated at $20.92 billion.

This resulted in a trade surplus of $8.28 billion, marking a significant growth of 62.4% compared to the same period last year.

Seven commodities and groups of commodities recorded export value of over $1 billion, namely coffee, rubber, rice, fruits and vegetable, cashew nuts, shrimps and wood products.

Of which, rice and cashew nuts posted a strong growth in terms of both volume and value. The country exported 4.68 million tons of rice worth $2.98 billion, up 10.4% and 32% year-on-year, respectively. Meanwhile, 350,000 tons of cashew nuts were exported, earning $1.92 billion, a year-on-year increase of 24.9% and 17.4%, respectively.

The US, China and Japan remained the largest importers of agro-forestry-fishery products from Vietnam. Shipments to the US account for 20.7% of the total and grow 20.8% year on year, China 20.2% and 9.5%, and Japan 6.7% and 5%.

With the positive results in the first half, the MARD forecasted that total agro-forestry and seafood export turnover of 2024 is expected to reach $56-57 billion.