New records in export turnover were set by key export items for January, making the annual target of $50 billion worth of farm exports feasible. The Ministry of Agriculture and Rural Development said in 2021 that Vietnam’s exports of farm, forestry and seafood produce reached a record high which brought turnover of $48.6 billion, an increase of 14.9 percent over 2020. Of this, major farm exports brought $21.49 billion (up by 13.5 percent), major forestry produce $15.96 billion (+20.7 percent) and seafood $8.89 billion (+5.6 percent).
New records were reported for January 2022. According to the General Department of Customs, exports of wood and woodworks reached a record high of $1.55 billion, an increase of 14.3 percent over the same period last year. This was the third time that woodwork export turnover exceeded $1.5 billion a month.
Vietnamnet.vn reports that exports to China stalled in January, Vietnam’s vegetable and fruit exports still brought turnover of $301 million, up by 0.3 percent over December 2021 (the peak month of the year) and 16 percent over the same period last year.
Sanctions impede exports
Sanctions imposed by the U.S. and Western world on Russia have caused Vietnamese export order and transaction delays. Phan Minh Thong, general director of Phuc Sinh, has spent the last few days contacting customers in Russia and Europe to deal with order and transaction delays.
Yearly, the company exports around $30 million worth of coffee, pepper and other produce to Russia. But when Russia attacked Ukraine last month, followed by Western sanctions, Phuc Sinh's export orders were suspended.
Thong said his partners in Russia and Europe are facing similar problems due to the sanctions. And in Vietnam, Thong is hardly alone in facing these difficulties.
Source: e.vnexpress.net