U.S. becomes largest importer of Vietnamese agricultural, forestry and fishery products

According to the Ministry of Agriculture and Rural Development, the export turnover of agriculture, forestry and fishery products in August 2024 increased by 12.3 percent year-on-year to US$5.55 billion.

Of which, the export of primary agricultural products reached US$2.99 billion (up 22.6 percent), forestry products US$1.45 billion (up 4.7 percent), and fishery products US$900 million (up 5 percent).

The export turnover of the livestock products was US$46.5 million, down 4.8 percent and production inputs US$161 million, down 23 percent.

In January-August period, the export value of agriculture, forestry and fishery products reached US$40.08 billion, up 18.6 percent over the same period last year.

Noticeably, the export value of agricultural, forestry and fishery products to all markets increased. Of which, export value to Asia was US$19 billion (up 15.7 percent), America - US$9.3 billion (up 22.3 percent), Europe - US$4.8 billion (up 30.5 percent), Africa - US$747 million (up 5.5 percent) and Oceania - US$563 million (up 12.8 percent).

In 2023, China was the largest importer of Viet Nam's agricultural, forestry and fishery products, accounting for 23.2 percent of the total agricultural, forestry and fishery export turnover.

However, the U.S. hase emerged to become the largest importer of Viet Nam's agricultural, forestry and fishery products in the first eight months, by spending US$8.58 billion, accounting for 21.4 percent, up 23.5 percent over the same period last year.

China was the second largest importer, with US$8.17 billion, accounting for 20.4 percent, up 10.2 percent, followed by Japan with a turnover of US$2.68 billion, accounting for 6.7 percent, up 4.6 percent.

Export turnover of critical products in the first eight months of 2024 was higher than in the same period last year. Notably, fruit and vegetable products continued to grow impressively, with export turnover in August 2024 reaching US$750 million, up 29 percent over the previous month and up 52.8 percent over the same period in 2023.

Vegetable exports are estimated at US$4.63 billion, up 30.6 percent from the same period last year.

China continued to be the largest import market for the Vietnamese fruit industry, with a turnover of US$2.93 billion, accounting for 64 percent of Viet Nam's total fruit and vegetable export market share.

Next are the U.S. and South Korea, with export turnover reaching US$223.5 million and US$223 million, respectively, up 31 percent and 51 percent over the same period last year, accounting for 4, 88 percent and 4.87 percent in market share./.