Agriculture has 3 more billion-dollar export groups

As of March 15, the agricultural sector had 5 export commodity groups with a turnover of 1 billion USD or more, an increase of 3 groups compared to the same period in 2023.

Racing to thrive

According to the latest preliminary statistics of the General Department of Customs (from the beginning of 2024 to March 15), the 5 billion-dollar export commodity groups of the agricultural sector are: Wood and wood products, coffee, seafood, vegetables, rice.

Of which, 3 new commodity groups reached a turnover of billions of dollars in the first 2.5 months of the year: coffee, vegetables, and rice.

Specifically, coffee exports reached a turnover of 1.574 billion USD, an increase of 61.1% over the same period last year (equivalent to an increase of nearly 600 million USD).

Rice reached 1.06 billion USD, an increase of 53.7% (equivalent to an increase of 370 million USD).

Vegetables reached 1.03 billion USD, an increase of 40.3% (equivalent to an increase of nearly 300 million USD).

Notably, not only the 3 new commodity groups and the remaining 2 billion-dollar commodity groups also had high growth.

Wood and wood products continued to be the largest export commodity group of the agricultural sector with a turnover of 2.86 billion USD, an increase of approximately 30% (equivalent to an additional turnover of nearly 660 million USD).

Aquatic products reached 1.546 billion USD, an increase of nearly 10.6% (equivalent to an additional turnover of nearly 150 million USD).

Thus, the additional turnover of these 5 key commodity groups alone amounted to more than 2 billion USD.

The fact that all 5 commodity groups achieved double-digit growth is an extremely optimistic sign in the context that in 2023, many groups experienced a sharp decline in turnover compared to 2022.

The main export markets of the agricultural sector are the United States, China, the EU, Japan, ASEAN, etc.

Towards many records

The above results are considered record numbers in the first months of the year for exports of these important commodity groups.

With a positive start and forecasting favorable factors of the world and domestic economy, the Ministry of Agriculture and Rural Development recently set a target of 55 billion USD for agricultural, forestry and fishery exports in 2024.

In terms of agricultural products, coffee; vegetables, fruits; rice are forecasted to continue to be key commodity groups with strong growth.

In particular, according to experts’ analysis, for the coffee industry, domestic and international prices are at their highest levels ever. Therefore, it is forecasted that in 2024, coffee exports will set a record and earn a turnover of about 5 billion USD.

Similarly, rice is also looking forward to a successful year, with many optimistic signals coming from important export markets from the beginning of the year and the expectation of turnover reaching and exceeding 5 billion USD (also the highest turnover ever).

Thus, the agricultural sector alone will have 3 products in the 5 billion USD export club, including vegetables, coffee, and rice.

Maintaining the leading position and having high growth, the 2 main commodity groups are wood and wood products; Aquaculture is also aiming for positive results in 2024.

According to Ms. Nguyen Thi Thu Sac, Chairwoman of the Vietnam Association of Seafood Exporters and Producers (VASEP), with the efforts, flexibility and adaptation of seafood enterprises and the support of the Government and ministries, in 2024, seafood exports will be higher than in 2023 and can reach a turnover of up to 9.5 billion USD.

For wood and wood products, this year’s turnover is expected to be about 15 billion USD, although not as high as the record of 16 billion USD in 2022, but it is also an optimistic result in the context of a deep decline in 2023. At the same time, this continues to be the only group of tens of billions of dollars in export goods of the agricultural sector.

Source: Haiquanonline