Agricultural Exports Continue to Achieve Remarkable Growth

Vietnam’s agricultural exports continued to grow strongly in the first nine months of 2024.

Despite being severely affected by Typhoon No. 3 and floods in September 2024, Vietnam’s agricultural sector still achieved a growth rate of over 3% in production value during the first nine months of the year.

According to the Ministry of Agriculture and Rural Development (MARD), exports of agricultural, forestry, and aquatic products in September reached US$5.85 billion, an increase of 31% compared to the same period in 2023. Total export turnover in the first nine months reached US$46.28 billion, an increase of 21%.

Key export items recorded impressive export figures, including:
– Wood and forest products: Over $12.4 billion, an increase of 20.3%.
– Fruits and vegetables: Over $5.6 billion, an increase of nearly 34%, projected to surpass $6 billion in 2024.
– Coffee: Over 1.1 million tons with a value of $4 billion, a 30% increase in value despite a decrease in quantity.
– Rice: Reached a turnover of 4.37 billion USD, an increase of 23.5%, with total export volume this year expected to exceed 9 million tons.

Vietnam’s major markets include the United States ($9.72 billion, accounting for 21% of market share), China ($9.26 billion, accounting for 20%), and Japan ($3 billion, accounting for 6.6%). Export turnover to these three markets increased by 10-20% compared to 2023.

According to Deputy Minister of Agriculture and Rural Development Phung Duc Tien, promoting market opening and seeking new orders from the end of 2023 has helped agricultural, forestry, and fisheries exports achieve positive results in 2024, with an average trade surplus of over 1.5 billion USD per month.

Source: According to Vietnam Financial Times