Agriculture makes up exports imprints in 2017

NDO – Export achievements in 2017 were encouraging amidst declining minerals and crude oil exports thanks to the strong growth in telephone, electronic components, and especially the agricultural sector, made up for the gap left by the mining industry’s exports. For the first time in history, exports marked a remarkable achievement in 2017 as they exceeded the US$200 billion benchmark with a total value of US$213.77 billion, up 21%. 2018 is also expected to be a good year for export targets. Typically, the seafood industry has returned impressively earning the country US$8.4 billion in 2017 (up 18.5% from the previous year), while wood and furniture brought in US$7.6 billion (up 9.2%), rice exports reaped US$2.6 billion (22.7%), and cashew nuts earned US$3.5 billion (23.9%). Most notably, fruit and vegetables surpassed the long standing crude oil in terms of export value at US$3.5 billion, up 43.1%. It is time to further improve the agricultural sector’s role. The good results in 2017 show that Vietnam has potential to develop a modern agricultural sector with higher added value and higher contributions to the GDP compared to the quite modest contribution level at present. For fruit alone, the recent encouraging results have opened up opportunities for the industry’s accelerated growth, especially its exports to the US and European markets. Positive news arrived as after ten years of negotiations, the first batch of star apple fruit from Tien Giang province has been allowed to export to the US, opening up great business opportunities for enterprises… [Read full story]

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