Agro-forestry-fishery exports expected to reach $40b

13-Sep-2018 Intellasia | The Saigon Times | 6:00 AM Print This Post

The nation’s agro-forestry-fishery exports are expected to reach $40 billion in 2018. This year, multiple export products such as woodwork, seafood and farm produce have brought in revenue of over $1 billion each, VnEconomy news site reported, citing the Ministry of Agriculture and Rural Development.

Wood and woodwork exports took the lead among exports, generating an estimated $696 million in August and $5.6 billion over the first eight months, up 12.6 percent year-on-year.

The United States, China, Japan and South Korea are Vietnam’s largest buyers, spending $2 billion (up 13.9 percent), $643 million (up 3.5 percent), $621 million (up 6.3 percent) and $540 million (up 54.6 percent), respectively, on Vietnamese wood and woodwork products.

Seafood came second, bringing in revenue of billions of US dollars. Vietnam saw its seafood export revenue reach an estimated $739 million in August and $5.5 billion over the first eight months, rising by 5.3 percent against the same period last year.

The country’s largest buyers are also the top seafood importers, accounting for 53.8 percent of Vietnam’s total outbound seafood volume over the first seven months of 2018.

Total export revenue of $2.7 billion put fruits and vegetables in the third position, followed by coffee products. Coffee exports amounted to some 143,000 tonnes, worth $260 million, in August. The cumulative coffee exports reached an estimated 1.32 million tonnes, worth $2.5 billion, during the first eight months of this year, up 15.5 percent in volume and down 2.5 percent in value year-on-year.

Rice and cashew export revenue amounted to $2.2 billion each in the eight-month period. Vietnam exported 441,000 tonnes of rice, worth $209 million, in August, resulting in outbound rice sales of 4.4 million tonnes, worth $2.2 billion, over the first eight months of this year, up 6.8 percent in volume and 22.1 percent in value year-on-year.

Meanwhile, the first eight months saw Vietnam’s outbound cashew shipments to some major markets, including the United States, the Netherlands and China, rising by 5.8 percent in volume and 0.6 percent in value year-on-year, reaching an estimated 238,000 tonnes, worth $2.2 billion.

Rubber exports were recorded at 163,000 tonnes, valued at $207 million, in August, making outbound rubber earnings over the eight-month period amount to $1.2 billion for 870,000 tonnes, up 8.2 percent in volume and down 11.8 percent in value compared with the year-ago period.$40b.html


Category: Economy, Vietnam

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