Vietnam's agricultural sector in 2023 achieves the record highest growth in the past 10 years

On December 29th, the Ministry of Agriculture and Rural Development held a press conference to announce the work achievements of the agriculture industry in 2023 as well as its plan for 2024. The GDP growth of the Agriculture sector in Vietnam in 2023 has been recorded as the most significant and highest, compared with that of the last 10 years.

In 2023, the Agriculture sector continued to affirm its important position, recording an estimated industry-wide growth of 3.8%. The quality of agricultural products have been improved, with rice, pork, and seafood production reaching 43.4 million tons, 7.6 million tons, and 9.3 million tons, respectively (increasing by 1.7%, 3.5%, and 2.9%, correspondingly). In addition, many agricultural products meet international standards and are exported to many demanding foreign markets such as the United States, Japan, and South Korea,...

In terms of exports, the export value of agricultural, forestry, and aquatic sectors reached 12 billion USD (highest since the last 10 years). Meanwhile, the total export turnover of agricultural, forestry, and aquatic products reached 53 billion USD in 2023, accounting for over 42.5% of the country's total trade surplus. There were 6 export items with a turnover of over 3 billion USD, including fruits and vegetables, rice, cashew nuts, coffee, shrimp, wood, and wood products.

Despite the predicted difficulties and challenges that the economy will face in 2024, the Agriculture sector still sets a target for the overall industry's GDP growth rate to be between 3.0 - 3.5%. In order to achieve that aim, the entire Agriculture sector is actively promoting the proposed plans, with a special focus on "Sustainable, Transparent, and Responsible Agriculture".

Excerpt from the article: Vietnam Agriculture in 2023: Highest growth in the last 10 years by Economics and Beverage Magazine: https://kinhtedouong.vn/nong-nghiep-viet-nam-nam-2023-tang-truong-cao-nhat-trong-10-nam-gan-day-98760.html