Agro-forestry-fishery export earns 26.6 billion USD in 8 months

Hanoi – The agro-forestry-fishery sector raked in an estimate 3.64 billion USD from exports in August, raising the total value in the first eight months of the year to 26.6 billion USD, up 1.6 percent year on year, according to the Ministry of Agriculture and Rural Development.

Best performers in the period include wood and wood products (6.66 billion USD), shrimp (2.1 billion USD), coffee (2 billion USD), rice (nearly 2 billion USD), fruits (1.96 billion USD), tra fish (1.33 billion USD), and rubber (1.3 billion USD).

Key farm products brought in 12.4 billion USD, accounting for 46.7 percent of the total export revenue, while key forestry products and seafood earned 7.08 billion USD and 5.52 billion USD, making up 26.6 percent and 20.8 percent of the total value, respectively.

Meanwhile, the country spent 20.54 billion USD on agro-forestry-fishery imports in the eight-month period, decreasing 1.2 percent from the same time last year. 

The ministry said that export of farm produce will face tough seas in the coming time due to fierce competition and increasing trade barriers brought by escalating trade war between large economies and the rise of trade protectionism.

In a bid to develop export markets, the ministry has asked competent agencies, localities and businesses to pay due attention to improving product quality and satisfying importers’ requirements in origin tracking and geographical indication for agro-forestry and fishery goods.

Furthermore, the ministry will closely coordinate with relevant ministries and branches to accelerate negotiations to seek new markets, stabilise traditional markets and expand potential ones. 

Building trademarks for local farm produce will be made in tandem with enhancing inspection of food safety and hygiene, the ministry said, adding it is necessary to control supply and direct farmers to apply cultivation and production methods in line with importers’ standards.