Vietnam's exports to China increase but decrease to US, Japan

30/08/2023    1234

The Ministry of Agriculture and Rural Development this morning informed the country’s total import-export turnover of agricultural, forestry and fishery products in the first eight months of the year.

Accordingly, the country earned US$59.69 billion from the export and import activities of agricultural, forestry and fishery products. Of these, export value was estimated at US$33.21 billion, import hit US$26.48 billion, creating a trade surplus is US$6.73 billion.

Although the country's export activities in all industries in the first eight months have faced many difficulties due to declined global demand, the export of agricultural, forestry and fishery products still ensured a trade surplus of US$6.73 billion.

According to the Ministry of Agriculture and Rural Development, the country's export value of aquaculture products was US$5.68 billion, down 25.4 percent and forest products reached US$8.95 billion, down 25.1 percent while the export value in several commodity groups like fruits and vegetables, coffee, cashew nuts, rice and livestock products increased moderately.

Regarding export markets, the Asian region brought Vietnam the largest export output hitting US$16 billion, up 0.2 percent, followed by the United States of America with US$7.5 billion, down 27.4 percent; Europe with US$ 3.7 billion, down 13.8 percent; Africa with US$681 million, up 11.5 percent and Oceania with US$ 480 million, down 23.5 percent.

Notably, the country’s export value to China accounted for 21.9 percent, up 9.8 percent while the United States made up 20.6 percent, down 27.4 percent and Japan occupied 7.6 percent, down 10.6 percent.

Source: SGGP News