VN Rakes in $7.6 bln in Agro-Forestry-Fishery Exports in H1

Viet Nam earned more than US$7.6 billion from exporting agro-forestry-fishery products during the past six months, up 24.8% year-on-year.

This was thanks to rising prices and demands in the world market, said the Ministry of Industry and Trade which released the figures.

Rice prices climbed 80%, coffee 40% and rubber 30% compared to the same period last year, it elaborated.

Farm produce raked in the largest turnover of $4.2 billion, up 31% year-on-year, followed by seafood ($1.9 billion, up 16%) and forestry products (over $1.5 billion, up 21%).

Rice exports climbed only 5.3% in volume, but enjoyed a twofold increase in value due to skyrocketed world prices.

Other agricultural staples including coffee, rubber, tea, cashew nuts and pepper, all recorded high growth in turnover.

Processing products, industrial products and handicrafts also increased.

Regarding textiles, Vietnamese enterprises during the period enjoyed huge orders from major overseas firms after the US posted a favorable report on the Southeast Asian country’s textile industry.

It is expected to churn out $9.5 billion in export revenues, a rise of 23% over 2007.

Other commodities such as leather shoes, wood products, electronic components, computers, cables, and mechanical products are also expected to increase 26%, reaching $37 billion to account for 60.4% of the country’s total export figure.

To ensure export growth amid the current context, the ministry has called on the government to relax lending criteria to create favorable conditions for private enterprises to access bank loans as it said capital is the key.

Meanwhile, the Ministry of Agriculture and Rural Development promised it will implement a series of measures in the remaining six months of the year to maintain stable growth, including ensuring the sufficient supply of seeds and materials for agricultural production, stepping up livestock breeding, and developing craft villages.

By Th.Hai, V.Lan – Translated by BH

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