01.03.2022, 22:51

Exports of agricultural products reach US$ 8 billion

Exports of agricultural products reach US$ 8 billion

In February 2022, the export turnover of agriculture, forestry, and fishery products was estimated at nearly US$ 3.3 billion, up 21.8% compared to February 2021.

The United States continues to be Vietnam's largest export market

According to the Ministry of Agriculture and Rural Development, in the first two months of 2022, the total export and import turnover of agricultural, forest, and fishery products were estimated at nearly US$ 14.2 billion, up 15.8% over the same period last year. In which exports were estimated at US$ 8.0 billion, up 20.9% over the same period the previous year; imports were estimated at over US$ 6.2 billion, up 10.0%; trade surplus was nearly US$ 1.8 billion, up 86.7% over the same period last year.

In February 2022, export turnover was estimated at nearly US$ 3.3 billion, up 21.8% compared to February 2021 but down 31.4% compared to January 2022. In the first two months of 2022, export turnover is estimated at US$ 8.0 billion, up 20.9% over the same period last year.

In which, the export of primary agricultural products is estimated at over US$ 3.2 billion, up 10.2%; livestock products reached US$ 54.1 million, down 3.5%; seafood reached nearly US$ 1.5 billion, up 47.2%; main forest products reached nearly US$ 2.9 billion, up 17.0%; production input group is about US$ 367 million, 2.1 times higher than the same period last year.

Export value of agricultural, forestry, and fishery products in the first two months of the year of Vietnam to markets in Asia (accounting for 39.5% market share), America (30.8%), Europe (13, 9%), Oceania (1.9%), Africa (1.3%).

The largest export market is the United States, with over US$ 2.3 billion (accounting for 28.2% of the market share), of which the export turnover of wood and wood products accounted for 69.9% of the agricultural, forestry, and fishery products export turnover of Vietnam in this market.

The second is the Chinese market with nearly US$ 1.3 billion (accounting for 16.2% of the market share), with export turnover of rubber group accounting for 33.3% of the export turnover of agriculture, forestry, and fishery products.

The third is the Japanese market, with an export value of nearly US$ 586 million (accounting for 7.3%) and exporting the largest group of wood products (accounting for 44.8% of the export value of agriculture, forestry, and fishery).

With US$ 2.3 billion, the U.S was the largest export market of Vietnam's agricultural, forestry, and fishery products in February 2022.

The fourth is the Korean market, with an export value of about US$ 376 million (accounting for 4.7%) and exporting the largest group of wood products (accounting for 51.6% of the export value of agriculture, forestry, and fishery).

Import turnover of agricultural, forestry, and fishery products in 2 months is estimated at over US$ 6.2 billion, up 10.0% over the same period in 2021.

In which, the import value of primary agricultural products is estimated at nearly US$ 4 billion, up 17.6%; livestock products reached about US$ 470.2 million, down 14.3%; the group of aquatic products is estimated at US$ 332.8 million, up 11.1%; the leading group of forest products about US$ 466.4 million, down 3.1%; production input group is about US$ 982.6 million, up 2.8%.

Leading the market is China, where exports to Vietnam reached US$ 607 million, accounting for 9.7% market share (of which wood and wood products accounted for 29.1% of the value); followed by Argentina with about US$ 564 million, accounting for 9.0% (maize accounted for 61.6%).

MARD organizes Vietnam Agricultural Products Week at EXPO 2022 Dubai

Recently, to promote agricultural products in some localities such as Quang Ngai, Vinh Phuc, Ha Nam, Dak Nong provinces, the Ministry of Agriculture and Rural Development has issued a document to implement solutions to increase agricultural product consumption in the domestic market; regularly exchange and provide quick information on prices, output, and production and supply of agricultural products that may face difficulties in consumption before the epidemic situation; advise the Government on solutions to remove the congestion of agricultural products at the border gate.

In addition, the Ministry of Agriculture and Rural Development has continued to promote the opening of agricultural markets with Peru, Australia, Brazil, China, the United States, ASEAN, Russia, the Czech Republic...; organize Vietnam Agricultural Products Week at EXPO 2022 Dubai and work with some bilateral partners with India, Argentina, UAE; Meeting with the EU Executive Vice President's delegation to promote cooperation in the field of climate change within the framework of implementing the results of the COP26 Conference and combating IUU fishing, proposing solutions and petitioning the EU to remove the card gold for Vietnam's seafood industry; organized "Forum connecting overseas businessmen, promoting trade and investment in the agricultural sector."

Deputy Minister of Agriculture and Rural Development Tran Thanh Nam (right) announced the opening of Vietnam Agricultural Products Week at the Vietnam Expo 2020 Expo Dubai. Photo: Thanh Huyen.

Also, continue to guide units and enterprises to comply with Orders 248 and 249 of the General Department of Customs of China; Report to the Prime Minister on the implementation of Orders 248, 249. As of February 25, 119 draft notices on SPS regulations of member countries of the World Trade Organization (WTO) have been compiled) may affect Vietnam's agricultural exports; send to relevant agencies for consideration and comments; handling 7 EU warnings on Vietnamese agricultural products and food products violating EU regulations.

Recently, Deputy Prime Minister Le Van Thanh has just signed Decision No. 150/QD-TTg of the Prime Minister approving the Strategy for Sustainable Agriculture and Rural Development in the 2021-2030 period, with a vision to 2050.

Specifically, by 2030, the GDP growth rate of agriculture, forestry, and fishery products will reach an average of 2.5 - 3% per year, the productivity growth rate of agricultural, forestry, and fishery workers will get an average of 5.5 - 6 % per year; expand and develop markets, especially export markets. The growth rate of the export value of agro-forestry-fishery products reaches an average of 5-6%/year.

By 2050, Vietnam will strive to be one of the leading agricultural countries in the world with a modern, efficient, and environmentally friendly agricultural product processing industry.


Author: Pham Hieu

Translated by Ha Phuc