Agricultural sector posts trade surplus of nearly US$3.3 billion in five months

Friday, 2019-05-31 15:51:36
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NDO - Export revenues of agro-forestry-fishery products in May is estimated to hit US$3.62 billion, pushing the figure in the first five months of 2019 to US$16.1 billion, an increase of 1.2% compared to the same period last year, reported the Ministry of Agriculture and Rural Development.

Meanwhile, Vietnam imported US$12.8 billion worth of agro-forestry-fishery products and agricultural materials, helping the agricultural sector post a trade surplus of nearly US$3.3 billion in the January-May period.

In the first five months, the revenue of farm produce exports stood at US$ 7.7 billion, a drop of 9.5%; while the seafood export value estimated at U$$3.15 billion, and the export value of the main forestry products was nearly US$4.25 billion, up 19.6%.

Several items witnessed increases in export value including tea (up 2.1%), fruits and vegetable (up 10.3%), and rubber (up 2.4%).

However, other key agricultural products continued to decline in both quantity and value. For rice, a key commodity for Vietnam, in the first five months of the year decreased 4% in volume and 20% in value compared to the same period last year. Coffee declined 12.4% in volume and 22% in value; and cassava and products made from cassava (down 17.6% in volume and 11% in value).