Vietnam's agriculture sector achieved record-breaking exports in 2024, overcoming market fluctuations and severe natural disasters. The year marked a significant leap forward for the country’s agricultural exports, with revenues reaching unprecedented levels.

New milestones despite challenges

In 2024, the agriculture sector faced numerous difficulties, including global market instability and the devastating effects of Typhoon Yagi, which caused losses amounting to VND 31 trillion ($1.27 billion).

Despite these challenges, the sector not only ensured national food security but also set historical export records for agricultural, forestry, and fishery products.

Preliminary statistics show that agricultural exports in 2024 reached $62.4 billion, an 18.5% increase (equivalent to $9.3 billion) compared to 2023.

Agriculture also recorded a trade surplus of $18.6 billion - the highest in history - surpassing the $6.54-12.16 billion range seen from 2015 to 2023. This represents a 53.1% increase over 2023 and is nearly 2.8 times higher than in 2021.

Key export highlights

In 2024, every major agricultural export category in Vietnam experienced growth. Wood and wood products led the sector, achieving $16.1 billion in export value, a 19.7% increase compared to the previous year.

Coffee exports also rose significantly, reaching $5.5 billion despite lower production. Prices for coffee soared by 56%, with domestic prices ranging from VND 100,000 to 134,000 per kilogram, bringing substantial profits to farmers.

Rice exports hit a record of 9.01 million tons, generating $5.8 billion - the highest figures since Vietnam began exporting rice in 1989. Vietnamese rice continues to hold premium pricing in international markets.

Notably, Vietnam became the first country globally to produce high-quality, low-emission rice on a large scale, covering 1 million hectares.

Cashew exports climbed to $4.3 billion, marking a 19.1% increase and solidifying Vietnam’s position as the world’s leading cashew exporter for nearly two decades. Pepper exports also rebounded, surpassing $1 billion in value.

Fruit and vegetable exports reached an impressive $7.2 billion, far exceeding the $5.6 billion recorded in 2023. Durian made a remarkable contribution, generating $3.5 billion - a 52% year-over-year increase - bringing Vietnam close to Thailand’s position in the Chinese market.

A shift toward sustainability

Deputy Minister of Agriculture and Rural Development, Phung Duc Tien, attributed these achievements to agricultural restructuring efforts focusing on added value and the application of science and technology.

Sustainable practices, such as integrating raw material zones with processing facilities and expanding export markets through trade agreements, have been key drivers of growth.

Farmers are moving away from excessive planting to focus on improving quality through organic and sustainable methods. Intercropping strategies, such as planting durian alongside coffee, have also proven successful in enhancing yields and profits.

In regions like the Central Highlands, agricultural prosperity has transformed livelihoods. Farmers are reporting significant income increases, allowing them to purchase cars and build homes.

Experts see this as evidence of a shift from focusing solely on quantity to prioritizing quality, aligning with global market demands.

The challenge for 2025 lies in ensuring sustainable development while maintaining growth. Deputy Director of the SPS Vietnam Office, Ngo Xuan Nam, highlighted the need to balance output and quality, warning against the pitfalls of overproduction.

Vietnam will continue to negotiate trade protocols for animal and aquatic products to access new markets, including the Halal market in the Middle East.

Deputy Minister Phung Duc Tien emphasized that Vietnam's agricultural potential is being unlocked, providing a strong foundation for meeting 2025 goals with larger-scale and higher-value exports.

Tam An