Potential of agricultural product export market in 2022

Export market of agricultural products by sea

Continuing the momentum in 2021, the export market of agricultural products in the first months of 2022 continues to have positive signs. In the first 4 months of 2022, the total import and export turnover of goods reached 242.43 billion USD, up 16.2% over the same period last year. Merchandise export turnover in 4 months reached US$ 122.48 billion, up 16.5%, of which the domestic economic sector gained US$ 32.9 billion, up 23.6%; the FDI sector (including crude oil) reached 89.6 billion USD, up 14.1%. Merchandise trade balance in the first 4 months of the year had a trade surplus of USD 2.53 billion.

Export market of agricultural products according to the Ministry of Agriculture and Rural Development

According to the Ministry of Agriculture and Rural Development, from January to the end of April 2022, the total export and import turnover of our country's agricultural, forestry and fishery products is estimated at 31.8 billion USD, up 7%. over the same period in 2021. In which, exports reached about 17.9 billion USD, up 15.6% over the same period last year; imports are estimated at 13.9 billion USD.

Thus, Vietnam had a trade surplus of nearly 4 billion USD of agricultural, forestry and fishery products, 3.2 times higher than the same period last year. There are 5 products/product groups with export value of over 1 billion USD, including: coffee, rice, vegetables, shrimp, and wood products.

Some products have higher export value compared to the same period last year, such as coffee with nearly 1.7 billion USD (up 59.4%); pepper about 367 million USD (up 29.6%); Pangasius reached 894 million USD (up 89.6%), shrimp reached over 1.3 billion USD (up 38.6%).

The Ministry of Agriculture and Rural Development said that in May, it will continue to monitor, capture and synthesize information and data on prices, production situation and supply of agricultural products in localities. and strengthen connection support, promote processing, domestic consumption and export (especially at border gates).

Export situation of agricultural products in international countries

The US continues to be Vietnam's largest agricultural export market with a turnover of 4.9 billion USD (accounting for 27.3% market share). Second is the Chinese market with over 3.2 billion USD (accounting for 18.1% market share). Next is the Japanese market with an export value of nearly 1.3 billion USD. The fourth is the Korean market with an export value of about 822 million USD (accounting for 4.6%).

In the opposite direction, Vietnam imported nearly 13.9 billion USD of agricultural, forestry and fishery products from abroad, down 2.3% over the same period in 2021.

If in the first quarter, Cambodia occupied the second position among export markets to Vietnam, in April it rose to become the largest agricultural export market to Vietnam, reaching 1.6 billion USD, accounting for 1.6 billion USD, accounting for 1 billion USD. 11.4% market share; followed by the United States and Brazil, both reaching about 1.1 million USD, accounting for 8.1%.

Implement and update the software system for the supply and demand of agricultural products from the locality. Organized a training course on “Quality, food safety, traceability in agricultural product production and processing” – the first step of the 3-step digitalization process for Vietnamese agricultural products.

Continue to promote the opening of agricultural product markets with other countries; promptly provide information, market regulations, import and export control between Vietnam and China.

Prepare to organize trade delegations to promote the supply chain of fruits and seafood in China under the National Trade Promotion Program. At the same time, negotiate to export rambutan, lemon, pomelo from Vietnam to New Zealand. Develop a scheme to promote the export of agricultural, forestry and fishery products to the EU, the United States, China and Japan.

Epilogue

Above, is some information that has been summarized about the potential export market of agricultural products in 2022. Hopefully, after the article, you will have more useful information about the market to make business development strategies. . Good luck