According to the Ministry of Agriculture and Rural Development, Vietnam’s exports of agricultural, forestry and fishery products, after a sharp decline in January 2023, regained growth momentum in February.

The total export turnover of the agricultural sector in February 2023 was estimated at 3.4 billion USD, up 5.7% compared to February 2022.

Of which, the main group of agricultural products reached 1.79 billion USD, up 25.9% compared to February 2022; animal husbandry 29 million USD, up 46.5%; main forest products with nearly 872.1 million USD, down 10.7%; and seafood $550 million, down 13.1%.

In the first 2 months of the year, many items recorded strong growth compared to the same period of 2022. For example, vegetables and fruits reached 592 million USD, up 17.8%; cassava and cassava products 283 billion USD, up 32.7%; milk and dairy products 16.2 million USD, up 10.2%; meat and by-products 16.9 billion USD, up 14.2%; and tea 25 million USD, up 5.1%.

In the opposite direction, coffee exports earned 703 million USD, down 14.6%; rubber 394 million USD, down 23.1%; rice 417 million USD, down 10.8%; cashew nuts 327 million USD, down 14.3%; and pepper 129 million USD, down 7.4%.

The deepest decrease was for pangasius, shrimp, wood and wood products with 64.1%, 54.9% and 34.8%, respectively.

By the end of February 2023, export turnover of the entire agricultural sector reached 6.28 billion USD, down 22.5% year on year.

Notably, China became the largest customer of Vietnamese farm products during this time. Accordingly, export turnover to the Chinese market reached 1.27 billion USD, accounting for 20.2% of total export value of Vietnam’s agricultural products. The US, after 2 years holding the top position, dropped to the 2nd place with a turnover of 1.19 billion USD, accounting for 19%.

Japan ranked third with 563 million USD, accounting for 9%; followed by South Korea with 302 million USD, accounting for 4.8%.

Last year, exports to the US reached 13.3 billion USD, accounting for 25% of Vietnam's total agricultural export value; to China 10.05 billion USD, accounting for 18.9%; to Japan 4.2 billion USD, accounting for 7.9% and to Korea 2.5 billion USD, accounting for 4.7%.

To promote the export of farm products, the Ministry of Agriculture and Rural Development will focus on promoting market development, removing trade barriers, and creating favourable conditions to boost domestic consumption and exports.

The ministry will therefore seek to take advantage of free trade agreements, especially the CPTPP and EVFTA in order to promote the export of key farm products.

A Vietnamese delegation will pay a working visit to China in order to work with Nanning and Yunnan Customs on boosting trade promotion, as well as updating and removing obstacles faced in the export of farm products.

The two sides will also discuss preparations in organising the vegetables export forum within the framework of the 5th Hortex Vietnam 2023, which is scheduled to take place in early March.

Tam An