Vietnam's Trade Surplus in Agriculture, Forestry And Fishery Products in The First Four Months Of 2022 Is Nearly $4 Billion

Vietnam's Ministry of Agriculture and Rural Development said that in the first four months of 2022, imports and exports of agricultural, forestry and fishery products reached about $31.8 billion, up 7 percent compared to the same period in 2021. Of which exports amounted to about $17.9 billion, up 15.6 percent, while imports amounted to about $13.9 billion, down 2.3 percent. The trade surplus in agricultural, forestry and fishery products was nearly $4 billion, 3.2 times higher than in 2021. 

 

In April, exports of agricultural, forestry and fishery products reached about $4.8 billion or more, up 11.2% year-on-year and down 2.6% from a year earlier. Among them, exports of major agricultural products reached about $1.9 billion, exports of major forestry products nearly $1.6 billion, exports of aquatic products nearly $1.1 billion and exports of livestock products amounted to $29.7 million. 

 

In the first four months, exports of major agricultural products amounted to more than $7.4 billion, an increase of 10.5%; major forest products amounted to nearly $5.9 billion, an increase of 4.9%; aquatic products amounted to about $3.6 billion, an increase of 43.7%; livestock products amounted to about $105 million, a decline of 19%. 

 

In particular, fertilizer exports amounted to about $439 million, 2.9 times more than the same period last year. 

 

Five categories of agricultural exports amounted to more than $1 billion, including coffee, rice, fruits and vegetables, shrimp and wood products. Exports of coffee, rubber, pepper, cassava and cassava products, check fish, shrimp, timber and wood products were higher than the level of the same period. For example, coffee exports amounted to nearly $1.7 billion, up 59.4%; rubber amounted to about $869 million, up 10.9%; pepper amounted to about $367 million, up 29.6%; cassava and cassava products amounted to $574 million, up 29.5%, etc. 

 

Products with decreasing export value include, tea ($51 million, down 13.2%), fruits and vegetables ($1.2 billion, down 14.6%) and cashew nuts ($889 million, down 6.7%). 

 

Regarding export markets, in the first four months, Vietnam's exports of agricultural, forestry and aquatic products to the Asian regional market accounted for 41%; the American market accounted for 29.7% and Europe accounted for 12.8%. Africa and Oceania accounted for 1.8% and 1.7% respectively. 

 

The United States is the largest export market, exports to the United States amounted to nearly $4.9 billion, accounting for 27.3%. Among them, timber and wood products exports accounted for 68.2% of Vietnam's exports of agricultural, forestry and fishery products to the United States. Next is China, exports to the Chinese market exceeded 3.2 billion U.S. dollars, accounting for 18.1%, rubber exports accounted for 22.4% of Vietnam's exports of agricultural, forestry and aquatic products to China. 

 

To develop markets and promote foreign exports, the Ministry of Agriculture and Rural Development has vigorously promoted various bilateral and multilateral cooperation activities to open up markets. The ministry will soon organize a delegation to China to promote the fruit and aquatic products supply chain. It is also focusing on negotiating and improving procedures to promote mango and chicken exports to South Korea; grapefruit and lemon exports to New Zealand; hair feathers, bird's nest and bird's nest products, milk and dairy products to China; and honey exports to the EU.