Vietnam’s farming exports reach US$26.58 billion

Tuesday, 2019-08-27 11:38:05
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Vietnam's agricultural exports in the January-August period went up 1.6%. (Photo: VnEconomy)
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NDO - Vietnam’s agricultural exports in the first eight months of 2019 were estimated at US$26.58 billion, up 1.6% over the same period of last year.

The Ministry of Agriculture and Rural Development (MARD) said that there were eight commodities posting revenues of more than US$1 billion each.

Key agricultural goods brought in US$12.4 billion, down 8.3%, while main forestry exports were estimated at US$7.08 billion, up 18.6%. Seafood exports dropped 1.2% to US$5.52 billion.

Strong growth was seen in a number of goods such as tea, up 22.7%; timber and timber products, up 17.5%; cinnamon, up 19.3%; and bamboo and rattan products, up 48.1%.

According to the MARD, Vietnam’s farming exports to China in the first seven months of 2019 fell 8.9% year on year to US$4.74 billion while exports to the US rose 12.6% to an estimated US$4.78 billion.

With such figures, the US is currently the largest importer of Vietnamese agricultural goods, followed by China, the European Union, ASEAN and Japan.

In the January-August period, Vietnam also imported US$20.54 billion worth of agricultural goods and supplies, down 1.2% from the same period last year, helping Vietnam to record a surplus of US$6.04 billion.