Vietnam's Agro-forestry-fishery exports accelerate to the finish line

Published Nov 8, 2021

Tridge summary

In October 2021, Vietnam's agricultural, forestry, and fishery exports saw a decrease of 15.6% from October 2020 but an increase of 4.2% from September 2021, totaling $3.4 billion. From January to October, exports reached $38.75 billion, a 13.1% increase year-over-year. With a trade surplus of $3.19 billion, the industry is on track to achieve an annual target of $44 billion. The United States is the largest export market, followed by China, Japan, and South Korea. Despite a decrease in volume, rice exports experienced a price increase due to increased demand and reduced supply from floods in rice-producing countries. The Vietnam Food Association predicts that the country may export 6-6.2 million tons of rice in the year, generating around $3.325 billion in revenue.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In October 2021, the export of agricultural, forestry and fishery products reached US$3.4 billion, down 15.6% compared to October 2020 but up 4.2% compared to September 2021. This result brought the total export turnover of the industry after 10 months to 38.75 billion USD, up 13.1% over the same period last year. If this pace is maintained in the remaining two months, the export target of $44 billion for the whole year of 2021 is entirely feasible. According to data from the Ministry of Agriculture and Rural Development, the total export and import turnover of agro-forestry-fishery products in the first 10 months of 2021 reached US$74.31 billion, up 24.2% over the same period last year. In which, exports reached 38.75 billion USD, up 13.1%; import $35.56 billion, up 39.1%. Thus, agro-forestry-fishery still had a trade surplus of 3.19 billion USD. In the past 10 months, many product groups with increased export value include: coffee, rubber, rice, vegetables and fruits, pepper, ...

Source: Vinacas