Vietnam Agro Material Imports +77% to US$5B in Jan-Apr

Vietnam imported nearly US$5 billion worth of agricultural, forestry and fisheries materials in the first four months of this year, up 77% from a year earlier, the Ministry of Agriculture and Rural Development estimated.

Unfavorable weather resulting in drought, disease and material shortage are the major reasons, the ministry explained, adding that the profuse dollar supply encouraged local firms to import more.

The ministry said the country spent US$353 million on importing 1.1 million tons of fertilizers in the first four months. Meanwhile, expenditure on imported pesticides was US$185 million, up 38%.

The country imported around US$301 million worth of timber, up 51.8%, and US$553 million worth of animal feeds, up 30.2% from a year earlier.

The ministry said the country’s imports of rubber latex and cotton doubled in both value and volume in the Jan-Apr period, but did not give any more exact figures.

Imports of wheat rocketed 60.95% in volume and 56% in value to 636,000 tons worth US$155 million during the period.

Meanwhile, the country earned US$5.6 billion worth of agricultural, forestry and fisheries products in the first four months of this year, up 12.8% on year.

Last year, Vietnam exported US$5.17 billion worth of agricultural, forestry and fisheries products, and imported US$2.8 million worth of materials in the Jan-Apr period.

Tags: Vietnam Agro Material Imports