Vietnam's agriculture sector gained a trade surplus of US$3.3 billion in the first five months of this year, according to the Ministry of Agriculture and Rural Development.
The nation achieved an export value of $16.1 billion from agricultural, forestry and aquatic products during the period, a year-on-year increase of 1.2 per cent, including $3.6 billion in May.
The sector spent $12.8 billion on agricultural, forestry and fishery imports in the first five months, up 2.1 per cent over the same period last year. Of which, imports of fertilisers, pesticides and key agricultural products reached about $10.8 billion, up by 2.7 per cent year-on-year.
However, the key agricultural product exports were estimated at $7.7 billion, down 9.5 per cent over the same period.
The ministry said the export value of agricultural, forestry and fishery products increased again slowing since the beginning of this year compared to 2018 due to China’s policy changes and the impact of the US-China trade war, the Vietnam News Agency reported.
Minister of Agriculture and Rural Development Nguyễn Xuân Cường said competition had grown this year, reported baodautu.vn.
Source: VietnamNews / www.agroberichtenbuitenland.nl