Exports of agriculture, forestry, and seafood products in August are estimated to reach US$1.75 billion, bringing total export earnings for eight months to US$12.2 billion, a year-on-year increase of 20.1 percent. Of the total, agriculture contributed US$6.5 billion, up 16.6 percent, seafood US$2.95 billon, up 12.9 percent, and forestry, US$2.28 billion, up 35.8 percent.

Meanwhile, imports of agriculture, forestry, seafood, tools, and materials for eight months totaled US$8.5 billion, up 28.9 percent compared to the same period last year. Major imported products are fertilizer, animal food, materials to produce animal food, wood and wood products.

Erratic weather around the world and sharp rises in wheat prices led many African countries to buy rice, boosting Vietnam’s rice exports. Vietnam has exported about 5 million tonnes in eight months, earning US$2.4 billion, up 8.2 percent in volume and 12.8 percent in value compared to last year.

Rubber export value has also increased by 89 percent thanks to price hikes. The leading user of Vietnamese rubber is China, who accounts for 68 percent of the export volume and 56.5 percent of the export value.

Forestry and timber exports saw growths of 10-200 percent.

The EU remains a big consumer of Vietnamese seafood with rapid growth. It has consumed more than 200,000 tonnes of Vietnamese seafood this year, accounting for 28.5 percent of the total seafood export volume.

Vietnam is expected to earn around US$16 billion in agriculture, forestry and seafood exports this year, around US$700 million more than last year.