August 6, 2009

Vietnam earned US$9.08 billion from export of agro-forestry and seafood products in the first seven months of this year, down 5.23 percent year-on-year, the Ministry of Agriculture and Rural Development (MARD) reported on Monday (Aug 3).

Despite an increase in volume, export prices for agro-forestry and seafood products fell due to the impact of the global economic recession, leading to a remarkable decrease in the total value of exports, according to the report.

Of the categories, agricultural products post a turnover of US$5.02 billion, down 5.32 percent on-year, seafood products of US$2.16 billion, down 9.49 percent, and key forestry products of US$1.43 billion, down 17.44 percent.

Seafood shipments showed signs of thriving, thanks to a slight rise in July.

Meanwhile, imports of materials and fertiliser for agricultural production cost US$5.7 billion in the period, a 14-percent decrease compared to the same period last year.

The ministry predicted that agro-forestry and seafood exports will fulfill 2009's export target of US$12.5 billion as prices of goods on the world market bounce back.

The ministry is placing focus on trade promotion and calling for international support for removal of trade barriers in order to expand export markets.