October 28, 2011

Vietnam's agricultural export turnover forecast to reach US$2.2 billion

Vietnam's agro-forestry-fishery sector is projected to attain an export turnover of US$2.2 billion this month, causing the 10-month amount to be US$20.8 billion, according to the Ministry of Agriculture and Rural Development (MARD) on Thursday (Oct 27).

To date, the sector spent US$13.1 billion for the imports of materials, equipment and spare parts, up 37.34% on year, thus recording a trade surplus of US$7.7 billion so far this year.

Of the total 10-month amount, agricultural exports contributed US$11.6 billion, up 45%, seafood products with US$4.95 billion, up 23.2%, and wood and wood-based exports with US$3.4 billion, up 16.2%, on year.

Seafood exports earned US$600 million in October, pushing the figure in the first 10 months to US$4.95 billion, up 23.2% on year.

Seafood demand increased in most export markets, of which demand from China rose by 47.5%, Italy with 42.1%, South Korea with 38.1%, and the US with 27.7%.