Vietnam’s 2021 exports of farm produce projected at $44 bln

Despite the severe impacts from Covid-19 pandemic, the country estimated export turnover of the sector to reach over $41.2 billion, up 2.5 percent from 2019.

GDP growth of the industry in 2020 was over 2.65 percent. Trade surplus of the sector reached $10.4 billion, said PM Phuc.

There are items reporting export value of over $3 billion, including timber with $12.8 billion, shrimp, $3.66 billion, vegetables and fruits, $3.35 billion, cashew nuts, $3.24 billion, and rice $3.07 billion.

At the meeting, the Vietnamese premier encourage the sector leader to promote the spirit of turning risks into opportunities for better achievements next year. The economy has opened with the participation of 14 free agreements.

For the agricultural sector targets in 2021, the Prime Minister emphasized that the growth rate should be about 3 percent.

Last year, exports of Vietnam’s agro-forestry-fishery products hit a record high of $41.3 billion, up 3.5 percent from 2018.

In 2020, despite natural disasters and pandemics Vietnam’s GDP is estimated at 3 percent, according to the International Monetary Fund, the World Bank. The growth rate is the highest in the Asia-Pacific region.

The Government has tasked the sector with putting Vietnam in the world’s top 15 most agriculturally developed countries and top 10 agricultural processing countries.

Vietnam is trying to become a global processing hub and a logistics center for global agriculture.