Agricultural exports rack up US$26 billion in eight months

Agro-forestry-aquatic exports brought home US$26.6 billion in the first eight months of this year, representing a year-on-year rise of 1.6 per cent, reported the Ministry of Agriculture and Rural Development.

Illustrative photo (Source: VOV)

Statistics released by the ministry show that eight goods categories reaped the export value of at least US$1 billion, encompassing coffee, rubber, rice, vegetables, shrimp, tra fish (pangasius), wood and wood products. Exports of coffee, rubber and rice were at least US$2 billion.

In August alone, Vietnam was estimated to earn US$3.64 billion from the export of agro-forestry-aquatic products, up 5.1% against the previous month.

The US remained the largest importer of Vietnamese agricultural products with the import value of US$4.78 billion, or nearly 20.1 per cent of the total. It was followed by China, the EU, Southeast Asian countries, and Japan.

In the eight-month period, agricultural  imports dropped by 1.2 per cent on year to $20.5 billion, yielding the agricultural trade surplus of some US$6 billion.

The ministry predicted that global trade is still on the downward trend and global investment flows will continue to be influenced by risk factors including politics, trade tensions between key economies and rising protectionism.