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ECONOMYTRADE - SERVICE

Vietnam's agro - forestry - fishery exports hit over US$19 billion in 6 months

Updated at Thursday, 28 Jun 2018, 19:32
The Hanoitimes - Vietnam`s agro - forestry - fishery export turnover in June came at US$3.45 billion, taking the total export turnover in the first six months to US$19.4 billion, up 12% year on year, according to the Ministry of Agricultural & Rural Development (MARD).
During the January - June, period, farm produce exports reached US$10.3 billion, up 9.7% year-on-year, while fishery exports jumped to US$3.94 billion, representing an increase of 10.5% year-on-year. Additionally, forestry exports stood at US$4.33 billion, up 12.7% year-on-year. 
 
Illustration photo.
Illustration photo.
Notably, rice export in the first six months totaled 3.57 million tons worth US$1.81 billion, increasing 42% in value and 12.5% in volume compared to the same period of last year. Other products that recorded high growth rates during this period included vegetables with US$2 billion, up 20% year-on-year, and cashew with US$1.71 billion, up 16.4% in value year-on-year.

Major export markets of Vietnam in the first six months were Indonesia (for rice, coffee and rubber), China (vegetables, rubber, fishery), Germany (tea, fishery, cashew), Malaysia (tea, rice), Iraq, Hong Kong, the Philippines (rice), Arab Saudi (tea), the US (cashew, fruits, rice) and India (rubber, peppercorn). 

Meanwhile, China continued to be Vietnam's largest agro-forestry-fishery exporter with turnover of US$1.2 billion, accounting for 74.6% of total import turnover and up 18.1% year-on-year, followed by the US with US$50.9 million, up 14.6% year-on-year. 

Other import markets such as Japan, South Korea, and Thailand also witnessed high growth rate at 8%, 15.4% and 26% year-on-year, respectively. 

According to the MARD, some Vietnamese products such as wood and tea are gaining attention from the world market. Moreover, a stronger US dollar has created favorable condition for Vietnam's exporters. 

However, growing protectionism in large markets such as the US, EU and China is causing uncertainty in the global market. 
Ngoc Thuy
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