The trade value of agro-forestry-fisheries products in the first quarter of this year was estimated at US$20.63bn, down 11.2% year on year, according to the Ministry of Agriculture and Rural Development (MARD)
Of the total, the export value reached about US$11.19bn, down 14.4%. Imports fell 7.2% year on year to US$9.44bn, according to Nguyễn Văn Việt, director of the Planning Department under MARD. As for the agriculture sector, it saw a trade surplus of US$1.76bn in the first quarter, a drop of 39.6% year on year.
An upturn was recorded in the export value of agricultural products and livestock, while a downturn was seen in the export of forestry products, and fisheries products. The fall was mostly due to the decrease in product price. Products that saw a strong growth in exports include rice, fruits and vegetables, and milk and dairy products.
Over the first quarter, Asia was the major export market of Vietnamese agro-forestry-fisheries products with 48.8% of the market share, followed by America with 20.3%, Europe with 12.8%, Oceania with 1.4%, and Africa at 1.2%. Specifically, China remained the largest market of Vietnam with a consumption value of US$2.4bn.
The ministry reported that the export revenue of the products in March was estimated at US$4.66bn, representing a rise of 27% over February but a fall of 6.5% year on year. Agricultural products contributed US$2.42bn to the figure, forestry products US$1.29bn, fisheries US$720mn, and livestock US$115mn.
To facilitate the trade of the products, MARD plans to focus on removing difficulties and obstacles in trading activities and reducing the negative impact of the COVID-19 pandemic and the developments in domestic and world markets.
The ministry will assist exporters in optimising the incentives offered by trade deals, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the EU-Vietnam Free Trade Agreement (EVFTA) to strengthen exports of agro-forestry-fisheries products.
