Farm produce exports post US$12.4 bln trade surplus in nine months

The country’s total export and import turnover of the products stood at an estimated US$69.84 billion throughout the reviewed period. Of the total, export revenue brought back approximately US$41.11 billion, up 18.6% from the same period last year.

Items attaining the highest export turnover included timber and wood products with US$10.9 billion and seafood with US$6.68 billion. They were followed by fruits and vegetables, coffee, and rice, earning US$5.18 billion, US$4.13 billion, and US$4.06 billion, respectively.

Four commodities secured an import value of over US$1 billion each as of September 15, namely animal feed and raw materials at US$3.45 billion, cashew nuts at US$2.55 billion, seafood at US$1.75 billion, and fruits and vegetables at US$1.54 billion.

The country’s agro-forestry-fishery exports are on track to hit a target of US$55 billion by the end of this year, buoyed by sustained positive growth recorded over recent months, according to the MARD.

The Ministry will therefore continue to handle issues in a bid to optimise free trade agreements to boost ago- forestry-aquatic- product exports.