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Four months, trade surplus of agricultural, forestry and fishery products reached USD 2.8 billion

08/05/2020

According to information from the Ministry of Agriculture and Rural Development, over the first four months, the total import-export turnover of agriculture, forestry and fishery products is estimated at nearly USD 21.1 billion. In particular, trade surplus of nearly USD 2.8 billion, slightly lower than the same period in 2019.

Specifically, in the first 4 months of 2020, total import-export turnover of agricultural, forestry and aquatic products is estimated at nearly USD 21.1 billion, of which exports reach USD 11.9 billion, down 4.9%, imports are estimated at USD 9.17 billion, down 5.2% over the same period last year; trade surplus of nearly USD 2.8 billion, down 4.1% compared to the same period of 2019.

In April 2020 alone, the export turnover of agricultural, forestry and fishery products is estimated at USD 2.9 billion, down 16.9% compared to April 2019 and down 18.9% compared to March 2020. In particular, the export value of main agricultural products reached nearly USD 1.47 billion (down 14.7%), main forestry products of about USD 683 million (down 24.0%), fishery products reached USD 563 million (down 10.8%) and husbandry reached USD 41 million (down 27.7%), etc.

Most of the products in the group decreased in turnover, except for coffee, cashew nuts, vegetables, timber and timber products, cinnamon, rattan, etc. Specifically: the export value of coffee reached USD 1.1 billion (increased by 1.5%); cashew nuts reached USD 948 million (increased by 4.2%); vegetables reached USD 203 million (increased by 5.0%); timber and timber products reached USD 3.22 billion (increased by 3.5%); Rattan, bamboo, sedge mats reached USD 162 million (increased by 11.8%).

Among items that fell sharply are: rubber reached USD 383 million (down 31.1%), tea reached USD 53 million (down 14.1%), pepper reached USD 249 million (down 12%), fruits reached USD 952 million (down 19.6%), pangasius reached USD 420 million USD (down 31.9%), shrimp reached USD 748 million (down 11.8%), etc.

Regarding export markets, over four months, China is still the market with the largest market share with export turnover of nearly USD 2.8 billion, down by 17.7% YoY and accounting for 23.4% market share; followed by the United States estimated at USD 2.78 billion, down 13.9% over the same period and accounted for 23.33% market share; EU market is estimated at USD 1.3 billion, down 1.9% and accounting for 10.75% market share; exports to Japan reached nearly USD 1.1 billion, up 2.9%, accounting for 9.0% market share; exports to ASEAN countries reached nearly USD 1.3 billion, up 7.1% and accounting for 10.49% of the market share.

In the opposite direction, cumulative for 4 months, the imports of agricultural, forestry and fishery products is estimated at USD 9.17 billion, down 5.2% compared to the same period in 2019. In particular, the import value of main agricultural, forestry and fishery products is estimated at USD 7.4 billion, down 9.1%.

Except for animal and vegetable oils, wheat, rubber and livestock products with increased import value (+ 8.0%, + 47.0%, + 4.2% and +17.6 respectively), other items decreased compared to the same period in 2019. In particular, fertilizer decreased by 21.0% (URE fertilizer decreased by 82.0%, DAP decreased by 15.0%), pesticides decreased by 18.3%, animal feed and raw materials decreased by 19.7%, maize decreased by 33.1%, cashew nuts decreased by 13.9%, vegetables and fruits decreased by 42.3%, timber and timber products decreased by 1.3%, and fishery products decreased by 2.9%.

 

Kylie Nguyen

© 2019 Vietnam Bank for Agriculture and Rural Development No. 2 Lang Ha street, Ba Dinh district, Hanoi, Vietnam
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