Vietnam earned some 15.66 billion USD from agro-forestry-aquatic product exports in the first four months of 2023, down 13.3% year-on-year, according to the Ministry of Agriculture and Rural Development.
The sector posted a trade surplus of 2.51 billion USD in the reviewed period, a decrease of 37.7%, the ministry said.
In April alone, the export revenue of agro-forestry-aquatic products was estimated at 4.54 billion USD, down 8.3% from the corresponding time last year, and 1.2 million USD from the previous month.
In the month, the export value of agricultural and husbandry products went up 24% and 46.7% to 2.33 billion USD and 41 million USD, respectively. Meanwhile, earnings from aquatic and forestry products dropped 28.6% and 29.8% to 800 million USD and 1.2 billion USD.
Such items as coffee, fruits and vegetables, cashew nuts, meat and by-products, and rice saw higher export values. On the contrary, the exports of rubber, tea, pepper, cassava and cassava products, wood and wooden products, rattan, bamboo and sedge mats, tra fish (pangasius) and shrimp experienced decreases.
For markets, apart from Asia with a 2.7% rise, Vietnam’s agro-forestry-aquatic product exports to America, Europe, Africa and Oceania contracted 39.6%, 13%, 21.2% and 31%, respectively. China, the US and Japan remained Vietnam’s biggest importers during the reviewed period.
The ministry said the decrease in agro-forestry-aquatic product export revenue was due to impacts of the global economy which is forecast to slow down this year, the Russia-Ukraine conflict and inflation surges in some countries.
Moreover, many countries have stepped up exports, while imported inventory remains big in major markets like the US and the EU, making many domestic enterprises unable to earn new orders.
The ministry said it will continue promoting market development and removing obstacles to domestic consumption and export in the time ahead.
Source: Lao News Agency