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Agro-forestry-fishery exports on track to reach US$50bln target

VGP - Viet Nam's goal to raise farm-aquatic-forestry product export turnover to around US$50 billion in 2022 is likely achievable, according to Deputy Minister of Agriculture and Rural Development Phung Duc Tien on October 3.

Posts Thuy Dung

October 04, 2022 2:19 PM GMT+7
Agro-forestry-fishery exports on track to reach US$50bln target - Ảnh 1.

Data of the Ministry of Agriculture and Rural Development showed that over the last nine months of 2022, Viet Nam's agro-aquatic-forestry exports hit US$40.8 billion, up 15.2 percent compared to the same period last year.

Meanwhile, the country spent US$33.9 billion on importing farm-aquatic-forestry products during that time.

Export value of key farm products was estimated at US$16.8 billion, up 7.5 percent while export turnover of forestry and aquatic exports reached US$13.3 billion and US$8.5 billion, up 10.8 percent and 38 percent, respectively. 

During the reviewed period, export items with high growth rates include coffee (US$3.1 billion, up 37.6 percent), rubber (US$2.3 billion, up 7.8 percent), rice (US$2.6 billion, up 9.3 percent), peppercorn (US$774 million, up 7.7 percent), cassava (US$1 billion, up 21 percent) and timber (US$12.4 billion, up 11.4 percent). 

The U.S. remained the largest importer of Viet Nam's farm products with US$10.5 billion, making up 25.8 percent. It was followed by China (US$7.4 billion), Japan (US$3.1 billion) and the Republic of Korea (US$1.9 billion)./.