Situation of Export and Import of Agricultural, Forestry, and Fishery Products in the First 5 Months of 2024

According to the Center for Digital Transformation and Agricultural Statistics under the Ministry of Agriculture and Rural Development, the export, import, and trade balance of agricultural, forestry, and fishery products (NLTS) in the first five months of 2024 is as follows:

1. Export

In May 2024, the export turnover for agricultural, forestry, and fishery products is estimated to reach $5.06 billion, marking an 11.2% increase compared to May 2023. This brings the total export turnover for these products in the first five months of 2024 to $24.14 billion, a 21% increase over the same period in 2023. The details are as follows:

• Agricultural products: Export value reached $13.11 billion, an increase of 27.7%.
• Livestock products: Export value reached $199 million, an increase of 5.6%.
• Seafood products: Export value reached $3.5 billion, an increase of 3.6%.
• Forestry products: Export value reached $6.58 billion, an increase of 22.7%.
• Production inputs: Export value reached $756 million, a decrease of 1.3%.
• Salt: Export value reached $1.9 million, a decrease of 1.4%.

Table 1. Export Value by Product Group in the First 5 Months of 2024

Source: Center for Digital Transformation and Agricultural Statistics - Ministry of Agriculture and Rural Development

The estimated total export value of Vietnam's agricultural, forestry, and fishery products to various regions in the first five months of 2024 is as follows:

• Americas: $5.4 billion, an increase of 23.1% compared to the same period last year.
• Africa: $459 million, an increase of 26.1%.
• Asia: $11.31 billion, an increase of 17.5%.
• Europe: $3.2 billion, an increase of 39.4%.
• Oceania: $341 million, an increase of 24.8%.

The market share of Vietnam's AFF exports to these regions in the first five months of 2024 is distributed as follows:

• Asia: 46.8%
• Americas: 22.5%
• Europe: 13.3%
• Africa: 1.9%
• Oceania: 1.4%

Table 2. Export Situation by Continent in the First 5 Months of 2024

Source: Center for Digital Transformation and Agricultural Statistics - Ministry of Agriculture and Rural Development

In the first five months of 2024, the United States, China, and Japan have emerged as the three largest export markets for Vietnam's agricultural, forestry, and fishery products. The export values and market shares are as follows:

• United States: Accounts for 20.6% of the total export value, an increase of 23.9% compared to the same period in 2023.
• China: Accounts for 19.2% of the total export value, an increase of 8.6%.
• Japan: Accounts for 6.7% of the total export value, an increase of 6.6%.

Table 3. Value and Market Share of the 5 Largest Export Markets

Source: Center for Digital Transformation and Agricultural Statistics - Ministry of Agriculture and Rural Development

Export of Key Products in the First 5 Months of 2024

• Rubber: In May 2024, rubber exports are estimated at 80 thousand tons, valued at $129 million. This brings the total rubber exports for the first five months to 568 thousand tons, worth $854 million. This represents a 3.1% decrease in volume but a 5.4% increase in value compared to the same period in 2023.
• Tea: The estimated volume and value of tea exports in May 2024 are 10 thousand tons and $17 million, respectively. Total tea exports for the first five months are 47 thousand tons, valued at $77 million, marking a 21% increase in volume and a 20.1% increase in value over the same period in 2023.
• Coffee: Coffee exports in May 2024 are estimated at 95 thousand tons, valued at $400 million. This brings the total coffee exports for the first five months to 833 thousand tons, worth $2.9 billion, a 3.9% decrease in volume but a 44.1% increase in value compared to the same period in 2023.
• Rice: The estimated export volume and value of rice in May 2024 are 980 thousand tons and $611 million, respectively. This brings the total rice exports for the first five months to 4.15 million tons, valued at $2.65 billion, up 14.7% in volume and 38.2% in value over the same period in 2023.
• Fruits and Vegetables: The export value of fruits and vegetables in May 2024 is estimated at $700 million, bringing the total for the first five months to $2.59 billion, a 28.1% increase over the same period in 2023.
• Cashew Nuts: The estimated volume and value of cashew nut exports in May 2024 are 70 thousand tons and $380 million, respectively. This brings the total for the first five months to 288 thousand tons, worth $1.55 billion, up 30.6% in volume and 19.3% in value compared to the same period in 2023.
• Pepper: Pepper exports in May 2024 are estimated at 30 thousand tons, valued at $135 million. Total pepper exports for the first five months are 113 thousand tons, worth $487 million, a 14.1% decrease in volume but a 19.7% increase in value over the same period in 2023.
• Cassava and Cassava Products: The estimated export volume and value of cassava and cassava products in May 2024 are 165 thousand tons and $70 million, respectively. This brings the total for the first five months to 1.29 million tons, worth $581 million, a 5% decrease in volume but a 9.9% increase in value compared to the same period in 2023.
• Livestock Products: The export value of livestock products in May 2024 is estimated at $45.8 million, bringing the total for the first five months to $199 million, a 5.6% increase over the same period in 2023. This includes $56.4 million from milk and milk products (up 4%) and $61.8 million from meat and meat by-products (up 10.2%).
• Seafood: The estimated export value of seafood in May 2024 is $780 million, bringing the total for the first five months to $3.5 billion, a 3.6% increase over the same period in 2023.
• Wood and Wood Products: The estimated export value of wood and wood products in May 2024 is $1.25 billion, bringing the total for the first five months to $6.14 billion, a 23.6% increase over the same period in 2023.

Table 4. High Value Export Items in the First 5 Months of 2024

Source: Center for Digital Transformation and Agricultural Statistics - Ministry of Agriculture and Rural Development

2. Import

In May 2024, the import turnover of agricultural, forestry, and fishery products is estimated to reach $3.87 billion. This brings the total import turnover for the first five months of 2024 to $17.61 billion, marking a 10.1% increase compared to the same period in 2023. The breakdown is as follows:

• Agricultural products: Import value reached $10.94 billion, an increase of 10.1%.
• Livestock products: Import value reached $1.42 billion, an increase of 3.4%.
• Seafood: Import value reached $992 million, a decrease of 5.6%.
• Forestry products: Import value reached $1.04 billion, an increase of 17.1%.
• Production inputs: Import value reached $3.21 billion, an increase of 17.5%.
• Salt: Import value reached $16.1 million, an increase of 4.9%.

Table 5. Import Value by Product Group in the First 5 Months of 2024

Source: Center for Digital Transformation and Agricultural Statistics - Ministry of Agriculture and Rural Development

Major Import Markets for Vietnam's Agricultural, Forestry, and Fishery Products in the First 5 Months of 2024

In the first five months of 2024, Vietnam primarily imported agricultural, forestry, and fishery products from the following regions:

• Asia: $5.47 billion (31% market share), an increase of 11.8% compared to the same period last year.
• Americas: $4.5 billion (25.5% market share), an increase of 54.8%.
• Europe: $769 million (4.4% market share), a decrease of 48.3%.
• Oceania: $726 million (4.1% market share), a decrease of 35.8%.
• Africa: $273 million (1.6% market share), a decrease of 46.2%.

Table 6. Import Value by Continent in the First 5 Months of 2024

Source: Center for Digital Transformation and Agricultural Statistics - Ministry of Agriculture and Rural Development

Brazil, China, and the United States are the top three suppliers of agricultural, forestry, and fishery products to Vietnam in the first five months of 2024:

• Brazil: $1.787 billion (10.1% market share), an increase of 44.5% compared to the same period in 2023.
• China: $1.579 billion (9% market share), an increase of 31.5%.
• United States: $1.560 billion (8.9% market share), an increase of 7.9%.

Table 7. Value and Market Share of the 5 Largest Import Markets in the First 5 Months of 2024

Imports of Key Products in the First 5 Months of 2024

• Soybeans: In May 2024, soybean imports are estimated at 230 thousand tons, valued at $117 million. This brings the total soybean imports for the first five months to 993 thousand tons, worth $525 million, up 13.1% in volume but down 10.7% in value compared to the same period in 2023.
• Wheat: The estimated volume and value of wheat imports in May 2024 are 800 thousand tons and $204 million, respectively. Total wheat imports for the first five months are 3.1 million tons, valued at $842 million, up 56.8% in volume and 16.8% in value over the same period in 2023.
• Corn: Corn imports in May 2024 reached 520 thousand tons, valued at $130 million. This brings the total corn imports for the first five months to 3.96 million tons, worth $1 billion, an increase of 23.5% in volume but a decrease of 7.3% in value compared to the same period in 2023.
• Cashew Nuts: The estimated volume and value of cashew nut imports in May 2024 are 230 thousand tons and $271 million, respectively. This brings the total for the first five months to 1.19 million tons, worth $1.47 billion, up 11.7% in volume and 5.1% in value over the same period in 2023.
• Rubber: The estimated volume and value of rubber imports in May 2024 are 110 thousand tons and $178 million, respectively. Total rubber imports for the first five months are 615 thousand tons, worth $912 million, up 4.1% in volume and 12.5% in value over the same period in 2023.
• Vegetables and Fruits: The import value of fruits and vegetables in May 2024 is estimated at $180 million. This brings the total import value for the first five months to $816 million, an increase of 13.1% over the same period in 2023.
• Livestock Products: The import value of livestock products in May 2024 is estimated at $311 million. This brings the total for the first five months to $1.42 billion, an increase of 3.4% compared to the same period in 2023. This includes $439 million for milk and milk products (down 15.3%) and $614 million for meat, meat by-products, and edible animal by-products (up 19.6%).
• Seafood: The estimated value of seafood imports in May 2024 is $200 million. This brings the total value for the first five months to $992 million, down 5.6% compared to the same period in 2023.
• Wood and Wood Products: The import value of wood and wood products in May 2024 is estimated at $250 million. This brings the total value for the first five months to $1.02 billion, an increase of 19.8% over the same period in 2023.
• Fertilizers of All Kinds: The estimated volume and value of fertilizer imports in May 2024 are 420 thousand tons and $140 million, respectively. This brings the total for the first five months to 2.01 million tons, worth $645 million, up 54.7% in volume and 38.2% in value over the same period in 2023.
• Animal Feed and Raw Materials: The import value of animal feed and raw materials in May 2024 is estimated at $500 million. This brings the total value for the first five months to $2.19 billion, an increase of 13.3% over the same period in 2023.
• Plant Protection Drugs and Raw Materials: The estimated import value of plant protection drugs and raw materials in May 2024 is $100 million. This brings the total value for the first five months to $374 million, an increase of 12.8% over the same period in 2023.

Table 8. High-Value Imported Items in the First 5 Months of 2024

Source: Center for Digital Transformation and Agricultural Statistics - Ministry of Agriculture and Rural Development

3. Trade Balance of Agriculture, Forestry, and Fisheries

In the first five months of 2024, Vietnam's trade balance for the agriculture, forestry, and fisheries (AFF) sector is estimated to achieve a surplus of $6.53 billion, a significant increase of 64.5% compared to the same period last year. The surplus is primarily driven by three main product groups: forestry products, aquatic products, and agricultural products.

• Forestry Products: The trade surplus for forestry products is estimated at $5.54 billion, a 23.9% increase over the same period in 2023.
• Aquatic Products: The aquatic products group achieved a surplus of $2.51 billion, up 7.7%.
• Agricultural Products: This group recorded a surplus of $2.17 billion, a remarkable increase of 6.6 times compared to the previous year.

Conversely, three commodity groups experienced trade deficits:

• Production Inputs: The trade deficit for production inputs reached $2.45 billion, an increase of 24.8%.
• Livestock Products: The deficit for livestock products was $1.22 billion, up 3.1%.
• Salt: The salt trade deficit was $14 million, an increase of 5.8%.

Top Products by Trade Surplus

The five products with the highest estimated trade surpluses in the first five months of 2024 are:

1. Wood and Wood Products: Surplus of $5.13 billion, up 24.4%.
2. Coffee: Surplus of $2.75 billion, up 41.8%.
3. Rice: Surplus of $1.9 billion, up 24.5%.
4. Fruits and Vegetables: Surplus of $1.77 billion, up 36.5%.
5. Shrimp: Surplus of $1.14 billion, up 16.2%.

Top Products by Trade Deficit

The five products with the highest estimated trade deficits in the first five months of 2024 are:

1. Animal Feed and Raw Materials: Deficit of $1.78 billion, up 18%.
2. All Types of Cotton: Deficit of $1.31 billion, up 13.6%.
3. Crop Products: Deficit of $1.27 billion, up 9.6%.
4. Maize: Deficit of $966 million, down 8.8%.
5. Wheat: Deficit of $831 million, up 16.8%.

Truong Thi Quynh Van

Department of Information and Trade Promotion - VIOIT