U.S. becomes largest importer of Viet Nam’s farm products in Q1
VGP - The U.S. was the largest importer of Viet Nam’s farm products over the first three months of 2022, with US$3.5 billion, accounting for 27.1 percent of Viet Nam’s export turnover, according to the Ministry of Agriculture and Rural Development.
The U.S. was followed by China with US$2.1 billion, Japan (US$872 million) and the Republic of Korea (US$562 million), making up 16.6 percent, 6.8 percent and 4.4 percent, respectively.
During the reviewed period, Viet Nam gained over US$12.8 billion from exporting agriculture-aquaculture-forestry products, a year-on-year increase of 15.3 percent.
Of the figure, the export of agriculture, forestry and aquatic products reached US$5.5 billion, US$4.3 billion and US$2.4 billion, witnessing respective growths of 12.8 percent, 4.4 percent and 38.7 percent.
Key farm export items included timber (US$3.9 billion), coffee (US$1.2 billion), shrimp (US$929 million), rubber (US$746 million), rice (US$715 million), tra fish (US$606 million) and cassava (US$420 million).
Meanwhile, the import value of farm products in the first quarter of the year saw year-on-year decrease of 3.5 percent, attaining nearly US$9.8 billion.