Vietnam sets new record for agro exports in 2022

Hanoi, The Gulf Observer: Vietnam’s agriculture sector in 2022 hitted a new record in the agro export value, hitting more than US$53.2 billion, a year-on-year increase of 9.3 per cent, according to the Ministry of Agriculture and Rural Development (MARD).

The ministry reported that the sector enjoyed a trade surplus of $8.5 billion, 30 per cent higher than that of 2021.

Specifically, the export value of main agricultural products reached $22.59 billion, up 4.8 per cent; main forest products reached $16.93 billion, up 6.1 per cent; and aquatic products hit $10.92 billion, up 22.9 per cent.

The agricultural sector had 11 groups of products recording an export turnover of over $1 billion, including seven groups of products gaining over $3 billion. They involved wood and wooden products with $10.92 billion, shrimp $4.33 billion, coffee $3.94 billion, rice $3.49 billion, rubber $3.31 billion, fruit and vegetables $3.34 billion, and cashew nuts $3.07 billion.

Vietnam’s agro exports in 2022 sets a new record

During the year, the sector has focused on removing trade barriers, thus helping set the new export records, the ministry said.

A series of projects have been implemented to promote exports, and speed up the application of IT in collecting information and carrying out market forecasts.

MARD has kept a close watch on price fluctuations and the balance of supply and demand in the market while proposing solutions to remove difficulties for the consumption of agricultural products.

It has also coordinated with embassies, and trade and agriculture counsellors to set up channels for providing information related to export markets.

It has also strengthened online trade promotion activities to expand exports to big markets such as China, the US, the European Union, Russia and Brazil, and effectively exploited potential markets including Japan, the Republic of Korea, ASEAN, Australia, New Zealand and the Middle East.

The ministry has closely coordinated with the Ministry of Industry and Trade to negotiate on opening the export market for local farm produce and to promptly solve problems to promote agricultural, forestry and fishery exports.

At the same time, it has had measures to solve obstacles from the COVID-19 pandemic and the Russia-Ukraine conflict affecting the global supply chain of agricultural products. It has actively taken advantage of free trade agreements (FTAs) to promote agricultural product exports.