Agricultural exports are forecast to reach nearly 60 billion USD in 2024

DNHN - Vietnam's agricultural sector is a bright spot with increasing export potential. It is forecast that in 2024, Vietnam could reach an export level of nearly 60 billion USD, opening up great opportunities for sustainable development in this sector.

According to data from the Ministry of Agriculture and Rural Development, in recent years, Vietnam's agricultural exports have continuously grown strongly. The diversity of agricultural products, the improvement of quality and production processes, along with the effective exploitation of new markets, have contributed to creating a solid foundation for expanding the export market in 2024.

Over the years, Vietnam's agriculture has maintained a stable growth rate of about 3-4%, especially since 2021. The export value of agricultural products in 2023 reached 53 billion USD. However, natural resources have decreased and cultivation areas have narrowed due to land being converted to urban areas or gradually degraded, and water shortages... In addition, food safety and environmental regulations of countries, such as anti-deforestation regulations in Europe, pose many challenges for the agricultural sector.

Recently, at the 2024 Agricultural Forum event organized by the Vietnam Chamber of Commerce and Industry (VCCI), Mr. Hoang Quang Phong, Vice Chairman of VCCI, said that Vietnam's agricultural sector plays a pillar role in the economy, ensuring food security. In the first 6 months of 2024, the GDP growth rate of the agriculture, forestry, and fishery sector reached 3.38%, the highest in the past 5 years. The total export turnover exceeded 29 billion USD, an increase of 19% compared to the same period in 2023, aiming for a goal of 57-58 billion USD for the whole year, although the agricultural sector still faces challenges from limited production scale, low technology, and low labor productivity.

Also at this event, Mr. Ha Van Thang, Chairman of VCAC, emphasized that to develop smart and sustainable agriculture, it is necessary to focus on science and technology and innovation, especially cooperation between scientific organizations and agricultural enterprises. He said that smart agriculture needs a highly qualified workforce, while Vietnamese farmers still mainly apply traditional methods.

Vietnam is not only famous for traditional products such as rice, coffee, and seafood but also expands its export range to high-quality agricultural products such as fruits, clean vegetables, and honey, meeting the increasing demand of the international market.

In particular, our country continues to exploit and expand the export market to new areas such as Europe, the US, and the Middle East. Free trade agreements also help facilitate access and expansion into new markets.

Despite the great potential, Vietnam's agricultural export sector still faces challenges, including climate change, fierce competition from other countries, and high product quality requirements. To achieve the export target of 60 billion USD by 2024, strong investment is needed to improve production capacity, improve circulation processes and product quality, and find effective market access methods.

Thus, our country is currently entering a promising phase in the development of agricultural exports. With great potential and opportunities, along with efforts and support from the Government and enterprises, reaching an export level of nearly 60 billion USD in 2024 is not only a feasible goal but also an important stepping stone for the sustainable development of the agricultural sector.

Nhan Ha