Agricultural export turnover of nine months reached USD 30 billion
(Updated at 15:7, 8/10/2019)
The 9-month accumulation of export turnover of the agricultural sector reached USD 30.02 billion, an increase of 2.7% over the same period with bright spots in agriculture export picture being livestock industry, forestry and rubber products.
According to the Agricultural Products Processing and Market Development Department (Ministry of Agriculture and Rural Development), the export turnover of agriculture, forestry and fishery products (collectively referred to as agriculture) in September 2019 is estimated at USD 3.5 billion. The 9-month accumulation of export turnover of the agricultural sector reached USD 30.02 billion, an increase of 2.7% over the same period. In particular, exports of agricultural products decreased by 7.2 %; exports of fishery products decreased by 2%; exports of forestry products increased by 18%.

Over the first nine months of 2019, the five largest markets of our agricultural sector include: China accounting for 21.5%; USA accounting for 21.2%; EU accounting for 11.9%; ASEAN accounting for 9.6% and Japan accounting for 8.5% of the total export turnover of the whole sector. In the opposite direction, the total import value of the whole sector reached USD 23.16 billion, a decrease of 0.7% over the same period. Thus, the trade surplus of the whole sector over nine months reached nearly USD 7 billion.
 
The bright spots in agriculture export picture being livestock industry, forestry and rubber products. Seafood export value in September 2019 is estimated at USD 733 million. Accumulated over 3 quarters, seafood export turnover reached USD 6.23 billion, a decrease of 2% compared to the same period in 2018. 
 
Japan, the United States, China and South Korea are the top four import markets of Vietnamese seafood, accounting for 56.8% of the total value of seafood exports. The markets with strong seafood export value increase are Taiwan, increased by 13.1 %, China increased by 11.2% and Mexico increased by 10.6%.
 
Seafood exports in the last 3 months of the year are forecasted to be difficult to achieve the high growth rate as in the same period in 2018 because Vietnam's seafood products are subject to fierce competition in both price and quality. The reason is that the aquaculture technology of countries has developed quite strongly, e.g. China and Malaysia have started to raise pangasius; Thailand and India have had better control of diseases in shrimp farming.
 
According to the Agricultural Products Processing and Market Development Department - the Ministry of Agriculture and Rural Development, the biggestest spot in exports is the livestock industry and forest products. The export turnover of livestock products in September 2019 continued to achieve impressive results with a turnover of USD 67 million, bringing the export value of this commodity group over 9 months to USD 529 million, an increase of 8.6% over the same period in 2018.
 
The export value of forest products over the first nine months reached USD 7.93 billion, an increase of 18.1 % over the same period of 2018. Rubber exports over nine months was estimated at 1.12 million tons with a turnover of USD 1.53 billion, an increase of 8.9% in volume and an increase of 7.3% in turnover over the same period in 2018.
 
 
Huong Nguyen
News Older

Online Banking

ATM/POS locations

Exchange Rate
Updated at
Applied at Agribank Operations Centre

Agribank Contact Center
1900558818