According to the MARD, in January 2024, the export value of agricultural, forestry, and aquatic products reached US$5.14 billion, marking a substantial 79.2 percent increase compared to the same period last year. The import value amounted to $3.72 billion, resulting in a trade surplus of $1.43 billion, a surge of over 4.6 times over the same period last year.
In detail, the export revenue for forestry products reached $1.49 billion, up 72.5 percent; aquatic products reached $730 million, up 60.8 percent; various agricultural products achieved $2.71 billion, up 93.8 percent; and livestock farming reached $36 million, up 3.5 percent.
In terms of market performance, the export values of agricultural, forestry, and aquatic products to different regions all witnessed growth. Specifically, the Americas region hit $1.18 billion, up 93.6 percent; Africa reached $104 million, up 185.4 percent; Asia topped $2.52 billion, up 86.3 percent; Europe touched $532 million, up 38.2 percent, and Oceania achieved $78 million, up 100.9 percent.
In particular, the proportion of exports to China accounted for 23 percent, indicating a 106.9 percent increase; the US constituted 20.8 percent, an increase of 95.9 percent, and Japan represented 7.4 percent, up 47.5 percent.
The MARD also noted that in January, prices for most commodities tended to rise compared to November 2023, driven by heightened demand during the Lunar New Year. However, these prices remained relatively stable with intertwined fluctuations compared to December 2023.
Except for two items that sustained notable increases (bud tea and fish hook tea, up by 19-30 percent, and bell peppers, up by 33 percent), several commodities experienced slight upticks, including black pepper (5 percent), coffee (4-9 percent), regular rice (over 6 percent), mangoes (8 percent), red-flesh dragon fruit (3.4 percent), white-flesh dragon fruit (4.5 percent), raw shrimp (4 percent), and raw fish (5-6.7 percent).
In the livestock sector, there has been a declining trend observed from the latter months of 2023 to the present. This decline is noticeable in live pork (10.5 percent decrease), live beef (2.5 percent decrease), colored-feather chickens (2.3 percent decrease), and factory-farmed chickens (6.8 percent decrease).
Overall, there is an abundant supply of agricultural products, ensuring adequate consumer provisions for the Lunar New Year. Prices have not fluctuated significantly; in fact, some items have witnessed decreases as a result of shifts in consumer habits," evaluated the MARD.
