Vietnam’s exports of agriculture, forestry, and fisheries products to the US, Japan, and the EU in the first half were down 32.9 per cent, 5.3 per cent, and 16.6 per cent, respectively, year-on-year, while those to rose 7.7 per cent to China.
Despite the rise, the Ministry of Agriculture and Rural Development said Vietnam’s farm produce exports to China make up just 5 per cent of the northern neighbor’s total imports of $260 billion annually.
Of the total export turnover of $53 billion Vietnam earned from agricultural products in 2022, China contributed $14 billion.
In the first half of this year, farm produce exports to China stood at $5.2 billion, up 7.7 per cent compared to the same period last year. Four groups of commodities posted major increases in value, including fruit and vegetables, up 80.2 per cent (or $1.45 billion), rice 79.2 per cent ($449 million), cashew nuts 50.9 per cent ($239 million), and tea 58.7 per cent ($5 million).
Meanwhile, items exported to China reporting declines were wood and wooden products, down 20.2 per cent, non-timber forest products 40.3 per cent, cassava and cassava products 18.8 per cent, rubber 12.6 per cent, and seafood 25.7 per cent.
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