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AGRICULTURAL EXPORT FLOURISHED RIGHT FROM THE BEGINNING OF 2024
|March, th , 2024                

After the positive results of 2023, right in January 2024, Vietnam's agricultural exports continued to achieve great success, contributing to a trade surplus of 4.6 times compared to the same period last year.

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Cashew nuts are one of Vietnam's largest export products

According to the Ministry of Agriculture and Rural Development, in January 2024, Vietnam's total agricultural export turnover reached 5.14 billion USD, an increase of 79.2% over the same period last year. The above results were achieved thanks to increased contributions from all product groups.

Specifically, forest products 1.49 billion USD, an increase of 72.5%; seafood 730 million USD, an increase of 60.8%; main agricultural products 2.71 billion USD, up 93.8%; livestock 36 million USD, up 3.5%; production input 177 million USD, an increase of 49.2%.

The export value of agricultural products to markets also increased. Of which exports to the Americas were 1.18 billion USD (up 93.6%); Africa 104 million USD (up 185.4%); Asia 2.52 billion USD (up 86.3%); Europe 532 million USD (up 38.2%) and Oceania 78 million USD (up 100.9%).

China continues to be the market importing the most Vietnamese agricultural products, accounting for 23%, an increase of 106.9%. The other two major markets for Vietnamese agricultural products are the United States, accounting for 20.8% (up 95.9%) and Japan, accounting for 7.4% (up 47.5%).

Also in January 2024, Vietnam imported 3.72 billion USD of agricultural products. Thereby, the value of agricultural trade surplus in the past month reached 1.43 billion USD, an increase of more than 4.6 times compared to the same period in 2023.

According to Deputy Minister of Agriculture and Rural Development Phung Duc Tien, from the beginning of 2024, the entire industry has actively implemented solutions to boost production and business, especially promoting trade and consumption of agricultural products. Vietnamese agricultural products are increasingly expanding their market and international market share.

In 2024, the Ministry of Agriculture and Rural Development aims to strive for total export turnover of agricultural products to reach 54 - 55 billion USD.

Recognizing that China will still be Vietnam's largest agricultural product import market in 2024, Deputy Minister Phung Duc Tien said that the agricultural industry wants and will continue to effectively exploit this market. In particular, promote the "smart border gate" mechanism in goods circulation.

Along with maintaining traditional markets such as the United States, Japan, and the European Union (EU), the Ministry of Agriculture and Rural Development strives to open new markets with much potential, especially Halal Muslim countries, Middle East, Africa…

The Ministry of Agriculture and Rural Development will also take advantage of new generation free trade agreements (FTAs), especially CPTPP and EVFTA, to promote the export of key agricultural products. Accompany and support businesses to sign new export orders. At the same time, coordinate and support trademark and geographical indication protection for potential export products.

One of the other very important tasks, according to Deputy Minister Phung Duc Tien, is to make efforts to remove the IUU yellow card. "The entire political system has stepped in with the determination to remove the IUU yellow card in 2024, creating conditions for sustainable fisheries development..." - Deputy Minister Phung Duc Tien emphasized.

According to kinhtedothi.com.

 

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