In the first 10 months of this year, there were 6 items with a trade surplus of over 1 billion USD, including wood and wood products, vegetables, coffee, rice, shrimp and tra fish.

In the first 10 months of 2024, Vietnam’s agriculture continued to affirm its position thanks to high surpluses in key products. Of which, 6 products achieved individual trade surpluses (of the industry) of over 1 billion USD, including wood and wood products, vegetables, coffee, rice, shrimp and pangasius.

Specifically, wood and wood products led with a surplus of 10.91 billion USD (up 19.6%); vegetables and fruits had a surplus of 4.47 billion USD (up 39.6%); coffee 4.33 billion USD (up 38.5%); rice 3.68 billion USD (up 13.1%); shrimp 2.92 billion USD (up 21.7%); and tra fish 1.54 billion USD (up 8.7%).

According to the Ministry of Agriculture and Rural Development, the trade surplus of the entire agricultural, forestry and fishery sector reached more than 15 billion USD (an increase of 62% over the same period last year).

In terms of export markets, the United States, China and Japan continued to be the main partners, accounting for 21.6%, 21.5% and 6.5% of market share, respectively. Of which, exports to the United States increased sharply by 25.9%, to China by 11.4% and to Japan by 5.9%.

On the contrary, Vietnam continued to increase imports, with total import turnover of agricultural, forestry and fishery products reaching 36.53 billion USD, up 8.5%.

Due to large imports, commodity groups such as production inputs and livestock products are all in deficit, of which production inputs have a deficit of 4.75 billion USD (up 7%) and livestock products have a deficit of 2.64 billion USD (up 7.2%).

Economists say that although imports have increased, this reflects that the demand for raw materials and input products for domestic production is still large, showing signs of a strong recovery in production activities.