Agricultural export turnovers see year on year decline

The Ministry of Agriculture and Rural Development yesterday reported that the export turnover of agricultural, forestry and fishery products reached US$2.47 billion in July, taking the total number to US$16.93 billion in the first seven months, down 3.6 percent over the same period last year.

Photo for Illustration (Photo: Thai Thien).

Farm produce export value was estimated at US$8.2 billion, down 5.7 percent. The highest reduction rates were from coffee with 33.7 percent, rubber 9.2 percent and rice 8.3 percent.

Seafood export value hit US$3.53 billion, a reduction of 17 percent against a year ago. The U.S., Vietnam’s largest market, reduced most with 27.71 percent.

Forestry products sustained a year on year growth momentum of 8.1 percent touching US$3.88 billion.

While exports continued facing difficulties, the import turnover of agricultural, forestry and fishery products increased 7.1 percent over the same period last year to US$13.34 billion. The most imported items comprised fertilizer, pesticide, maize and soybean and livestock feed products.

(Source: SGGP)