US largest importer of Vietnam’s agro-forestry-fishery products

The US was the largest importer of Vietnamese agro-forestry-fishery products during January-November, with a turnover of $9.8 billion, up 22.3 percent year-on-year, according to the Ministry of Agriculture and Rural Development.

US largest importer of Vietnam’s agro-forestry-fishery products hinh anh 1

Tra fish processed for export (Photo: VNA)

In the 11-month period, the US accounted for 26.2 percent of Vietnam’s total farm produce export revenue.

China came second by splashing out nearly 9.2 billion USD on the Vietnamese products, falling 6.6 percent from the same time last year, and making up of 24.6 percent of the country’s total.

According to the ministry, agro-forestry-fisheries export turnover reached 3.72 billion USD in November, raising the total figure in the first 11 months of this year to 37.42 billion USD, up 2.4 percent over the same period of 2019.

Meanwhile, the country imported about 28.05 billion USD worth of agro-forestry-fisheries products in the period, resulting in a surplus of nearly 9.37 billion USD, up 10.9 percent year on year.

 

Specifically, export earnings of major farm produce were 16.76 billion USD, a drop of 0.5 percent, while that of livestock reached 297 million USD, a fall of 18.5 percent, fisheries nearly 7.75 billion USD, down 0.9 percent, and forestry products 11.65 billion USD, up 15 percent year on year.

The ministry has rolled out various measures to remove difficulties facing the export of agro-forestry-fisheries products and broaden markets, in order to fulfil the goal of earning at least 41 billion USD from the export of the products in 2020.

The ministry will work with relevant parties to implement measures to balance the trade and tackle difficulties in trade for exporters.

Along with updating businesses on policies of markets, especially the EU, China, the US, Japan and the Republic of Korea, the ministry will hold an online meeting with the General Customs of China to discuss measures to further open the market of both sides, and to facilitate quick customs clearance in border gates between the two countries./.VNA

 
 

Other News

.
Plenty of room remains for growth of consumer credit market: Insiders
Plenty of room remains for growth of consumer credit market: Insiders
BUSINESSicon  01/04/2021 

Though Vietnam’s outstanding consumer credit almost tripled over the last decade, its share of total outstanding loans is yet to keep pace with that of its regional nations. 

Owner of US$7 billion system, billionaire Nguyen Dang Quang takes new step
Owner of US$7 billion system, billionaire Nguyen Dang Quang takes new step
BUSINESSicon  01/04/2021 

After Masan Group's acquisition of Vingroup’s retail chain, Masan’s Nguyen Dang Quang took great steps to master the $7 billion system and form an ecosystem for Vietnamese people.

Banks required to issue chip cards for security
Banks required to issue chip cards for security
BUSINESSicon  01/04/2021 

Vietnamese commercial banks are required to issue chip ATM cards to improve customers’ transaction security from March 31, according to the State Bank of Vietnam’s Circular No. 22/2020/TT-NHNN.

Industries bet on vaccine visa measures
Industries bet on vaccine visa measures
BUSINESSicon  01/04/2021 

In line with the global vaccine visa drive, Vietnam’s latest move to complete technical infrastructure for the availability of such a travel document in April is expected to revive industries, heralding strong economic recovery ahead.

Big businesses pour billions of dong into land purchases in Da Nang
Big businesses pour billions of dong into land purchases in Da Nang
FEATUREicon  01/04/2021 

While other land markets are hot, Da Nang remains very quiet, prompting many investors from Hanoi and HCM City to collect land plots in advantageous positions in "bottom fishing" deals.

More than 10 sugar mills shut down because of big losses
More than 10 sugar mills shut down because of big losses
FEATUREicon  01/04/2021 

Many sugar mills have had to shut down because they cannot compete with imports.

Vietnam Airlines unveils coveted US flight proposals
Vietnam Airlines unveils coveted US flight proposals
BUSINESSicon  31/03/2021 

Vietnam Airlines’ dream of a direct commercial flight to the US is being quickened as a way to shelter from the financial trouble amid the pandemic, with repatriation flights being the pre-runner for future non-stop journeys across the Pacific Ocean.

Rapid growth of online delivery services
Rapid growth of online delivery services
BUSINESSicon  01/04/2021 

The sudden, unexpected and virulent spread of the Covid-19 pandemic brought about a change in perception and planning in consumer sales behavior, and many well established businesses made a strong shift towards online delivery servicing. 

New strategy to place priority on green growth
New strategy to place priority on green growth
BUSINESSicon  31/03/2021 

The Ministry of Planning and Investment is drafting a national green growth strategy and plans to submit it to the Government by June to accelerate the transition towards a carbon-neutral economy in Vietnam.

Many Vietnamese exporters see profit soar during COVID-19
Many Vietnamese exporters see profit soar during COVID-19
BUSINESSicon  31/03/2021 

Many Vietnamese exporters have seen a sudden increase in profits during the COVID-19 pandemic.

VIETNAM BUSINESS NEWS APRIL 1
VIETNAM BUSINESS NEWS APRIL 1
BUSINESSicon  01/04/2021 

Gov't needs to provide more support for SMEs in taking advantage of the EVFTA

Aviation industry: Sasco reports profit, Nasco reports loss
Aviation industry: Sasco reports profit, Nasco reports loss
BUSINESSicon  31/03/2021 

Aviation service companies continue experiencing hardships due to the Covid-19 pandemic, but the business of Johnathan Hanh Nguyen still is making a profit.

Wind, solar power projects complain about VAT refunds
Wind, solar power projects complain about VAT refunds
FEATUREicon  31/03/2021 

Wind power developers, who are running against time to put their projects into operation prior to November 2021, now face another problem: they may not get a VAT (value added tax) refund because of certain regulations.

Businesses still making under-the-table payments
Businesses still making under-the-table payments
BUSINESSicon  01/04/2021 

Under-the-table payments, often required in administrative procedure categories and enforcement stages, has been compared to a "leech" that persistently causes pain to businesses and the public.

Attracting multi-billion dollars worth of investments to IZs, tycoon earns big money
Attracting multi-billion dollars worth of investments to IZs, tycoon earns big money
BUSINESSicon  31/03/2021 

The real estate firm of Dang Thanh Tam has attracted $1.2 billion worth of investments into its IZs within a short time, projecting a profit increase of 6-7 times in 2021 amid continued foreign capital inflow.

Vietnam to develop wind, solar power, but safety concerns exist
Vietnam to develop wind, solar power, but safety concerns exist
FEATUREicon  31/03/2021 

Wind and solar power continues to be prioritized but solutions are needed to ensure the safety of the electricity system when operating volatile sources of energy.

Home loan interest rates fluctuate
Home loan interest rates fluctuate
BUSINESSicon  31/03/2021 

Many commercial banks have adjusted their preferential home loan interest rates, ranging from 5.99 percent to 9.5 percent per annum.

Beauty queens gather in Hanoi
Beauty queens gather in Hanoi
BUSINESSicon  30/03/2021 

The two runner-ups, Tu Anh and Huyen My, joined Miss Vietnam World Ngo Phuong Lan, actors Huynh Anh, Doan Quoc Dam and actress Diem Hang at a recent event in Hanoi.

VIETNAM BUSINESS NEWS MARCH 30
VIETNAM BUSINESS NEWS MARCH 30
BUSINESSicon  30/03/2021 

Vietnam-UK trade deal to officially take effect from May

Mekong Delta continues to develop transport infrastructure
Mekong Delta continues to develop transport infrastructure
BUSINESSicon  30/03/2021 

The Mekong Delta is working with the Ministry of Transport to improve the local transport infrastructure and thus trade flows, the Can Tho branch of the Vietnam Chamber of Commerce and Industry has said.

 
 
 
Leave your comment on an article

OR QUICK LOGIN