Agricultural import - export revenue reaches nearly US$39.5 billion in seven months

Tuesday, 2020-07-28 16:25:37
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Rice is among export products posting increasing export revenue in the first seven months of this year. (Illustrative image)
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NDO – The total import and export revenue of agricultural, forestry and aquatic products is estimated to have reached nearly US$39.5 billion in the first seven months of this year with increasing export revenue in rice, vegetables, cassava, shrimp, wood products and others.

According to the Ministry of Agriculture and Rural Development, the total export revenue of agricultural, forestry and aquatic products was posted at US$22.3 billion in the seven-month period, down 2.8% over the same period in 2019 and their total import revenue was reported at US$17.2 billion, down 4.6% over the same period in 2019.

During the January-July period, a number of products saw increasing export revenue over the same period last year including rice, vegetables, cassava, shrimp, wood and wood products, cinnamon, and rattan and bamboo products.

There were six groups of products posting export revenue of over US$1 billion each with wood products reporting the highest export revenue of over US$6.5 billion, an increase of 6.7% over the same period in 2019.

However, several products suffered declining export revenue including rubber (down 19.5%), tea (down 7.7%), pepper (down 22.5%), tra fish (down 26.9%) and fruit (down 20.2%).

China is the largest export market of Vietnam with a total export revenue of nearly US$5.4 billion during the period, down 11.1% over the same period and accounting for 24.1% of Vietnam’s total export revenue.

In July alone, Vietnam posted a total export revenue of agricultural, forestry and aquatic products of US$3.4 billion, up 4.6% over the previous month. The forestry and aquatic sectors continue to recover and regain their export growth.