Global Agriculture

Agro – forestry and fishery exports decreased

06 September 2023, Vietnam: According to the Ministry of Agriculture and Rural Development, the export turnover of agro – forestry and fishery products in August 2023 was estimated to reach 4.36 billion USD, bringing the total export turnover for the first 8 months of 2023 to 33.21 billion USD, a decrease of 9.5% compared to the same period in 2022. In which, the export value of agricultural products reached USD 16.92 billion, up 11.5%; Export value of livestock products reached 325 million USD, up 26.1%; Seafood export value reached 5.68 billion USD, down 25.4%; Export value of forest products reached 8.95 billion USD, down 25.1%; Export value of production inputs reached 1.32 billion USD, down 21.9%; The export value of salt reached 3.6 million USD, up 0.8%.

In the first 8 months of 2023, Asia (with a market share of 48.2%), the Americas (with a market share of 22.6%), and Europe (with a market share of 11.1%) were the largest consumers of Vietnam’s agro-forestry-fishery products. The other two regions, Africa (with a market share of 2.1%) and Oceania (with a market share of 1.4%), had relatively small market shares. Vietnam’s estimated total export value of agro-forestry-fishery products to these regions in the first 8 months of 2023 increased by 0.2% to 16 billion USD for Asia, decreased by 27.4% to 7.5 billion USD for the Americas, decreased by 13.8% to 3.7 billion USD for Europe, increased by 11.5% to 681 million USD for Africa, and decreased by 23.5% to 480 million USD for Oceania.

China, the United States and Japan are the three largest export markets of Vietnam’s agro-forestry-fishery products in the first eight months of 2023. Export value to China accounts for 21.9%, up 9.8% over the same period in 2022; exports to the US accounted for 20.6%, down 27.4%; and exports to Japan accounted for 7.6%, down 10.6%.

Also Read: Swaraj launches 5 new tractors in the 40 to 50 HP category; Onboards MS Dhoni as brand ambassador

(For Latest Agriculture News & Updates, follow Krishak Jagat on Google News)