Huge trade surplus for agro-forestry-aquatic sector
![Huge trade surplus for agro-forestry-aquatic sector](/temp/resize/400x300/upload/news/12-2020/730d204e-5fd2ef049eda11b7394a0451.jpg)
The agro-forestry-aquatic sector has recorded a surplus of US$7.25 billion during the past nine months, representing an annual increase of 15.7%, according to the Ministry of Agriculture and Rural Development (MARD).
Cashew nuts are one of the six commodity groups that rake in more than US$2 billion from exports in nine months
The sector’s total import-export turnover stood at approximately US$52.8 billion during the reviewed period, with exports recording an increase of 1.6% to US$30.05 billion, and imports dropping by 2.2% to roughly US$22.8 billion.
Most notably, September witnessed the sector post its highest export revenue of US$3.8 billion, representing a rise of 3.8% in comparison to the August figure.
Despite several export items experiencing a downward trajectory, rice, vegetables, cassava, shrimp, wood products, cinnamon, bamboo and rattan have all maintained export growth throughout the nine-month period.
A total of eight commodity groups grossed turnover of over US$1 billion, while six categories raked in more than US$2 billion, namely coffee, rice, cashew nuts, vegetables, shrimp, and wood products.
The United States represented the largest consumer of Vietnamese farm products in nine months, spending over US$7.5 billion on imports, an annual increase of 19.3%. It was followed by China (US$7.24 billion, down 7.7%), ASEAN (US$2.93 billion, up 4.6%), the EU (US$2.83 billion, down 0.6%), and Japan (US$2.51 billion, the same as last year’s corresponding period).
The MARD has asked its relevant agencies to co-ordinate efforts with localities to remove business hurdles, strengthen trade promotion, disseminate new regulations about export markets, especially China.
Related news
![Vietnamese rice exports to EU speed up](/temp/resize/75x75/upload/news/12-2020/3d346b5f-5fd18efa9eda11a8547f0465.jpg)
Six enterprises appliedfor certification with a volume of approximately 4.3 thousand tonnes of fragrant rice exported to the EU. Rice exports including fragrant
![Asia Coffee-Vietnam prices fall for second straight week, Indonesia premiums gain](/temp/resize/75x75/upload/news/12-2020/f1db8abc-5fd18f379eda11f1537f0465.jpeg)
Vietnam’s domestic coffee prices dropped for the second week on weak global cues, while Indonesia’s premiums stayed firm as some farmers held their beans
![Nestlé’s project aims to make Vietnam international reference for Robusta coffee](/temp/resize/75x75/upload/news/12-2020/7e1577fb-5fd2eda89eda114b344a0451.jpg)
Vietnam’s Robusta coffee does not pursue the goal of being the world's No.1 in production or productivity, but how to help coffee growers to get high profits