Amid an ever-changing global economy, Vietnam’s agricultural sector has retained its target of $54 billion in export revenue. Do you think this target will be met?

Export revenue in the agriculture, forestry, and fisheries sector stood at $47.84 billion in the first eleven months of the year, a decline of 2.7 per cent year-on-year. However, revenue in November hit $4.8 billion, a 13 per cent increase against November 2022. The trade surplus in the first eleven months was estimated at $10.55 billion, up 33.7 per cent compared to the same period last year.

Exports have faced a host of difficulties this year. However, the agriculture sector still pursues its target of $54 billion in export revenue. In December, global consumption demand for agriculture products is predicted to increase as a result of the Christmas and New Year holidays, which are expected to lead to a rise in exports. Many markets have also gradually recovered.

December exports are expected to fetch over $5 billion, thus bringing total revenue for the year as a whole to more than $53 billion.

What are your thoughts on the sector’s export performance in 2023?

The agriculture sector has six products posting export value of over $3 billion each, including coffee, rice, fruit and vegetables, cashew nuts, shrimp, and wood and wooden products.

Exports of rice and fruit and vegetables have been bright spots this year, recording continual increases for many months.

In the first eleven months of the year, Vietnam posted a new record by exporting 7.75 million tons of rice worth $4.41 billion, a year-on-year rise of 36.3 per cent.

Vietnamese rice was recently recognized as the world’s best, confirming the value and brand of the country’s rice in the international arena.

During the eleven-month period, it harvested 41.17 million tons of rice, and the figure for the year as a whole is estimated at 44 million tons.

Meanwhile, exports of fruit and vegetables reached $5.3 billion in the first eleven months, up 74.5 per cent year-on-year.

If export revenue of fruit and vegetables in December hits $500 million, total export value for the year will reach $5.8 billion.