The Green Gold Rush: How Vietnam’s Agro-Industry Reaps a $40 Billion Windfall

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In the first seven months of the year, the total export turnover of the agriculture, forestry, and fisheries sector reached US$39.68 billion, up 14.7%. The trade surplus of agricultural, forestry, and aquatic products reached US$11.52 billion, up 15.9% over the same period last year.

In terms of product groups, agricultural products continued to lead with an estimated export value of US$21.49 billion (up 17%), followed by forestry products at US$10.38 billion (up 8.6%), aquatic products at US$6.06 billion (up 13.8%), and livestock products at US$339.2 million (up 22.1%).

Asia remained Vietnam’s largest export market, accounting for 42.6% of the total value. The Americas and Europe accounted for 23.3% and 15.1%, respectively. Despite having a smaller market share, Africa and Oceania showed strong growth, with increases of 88.9% and 4.4%, respectively. Notably, exports to Europe increased by 43.1% compared to the same period last year.

In terms of specific markets, the top three partners were the United States (accounting for 21% market share), China (18.4%), and Japan (7.2%). Among them, exports to Japan increased significantly by 23.6%, the United States by 12.1%, and China by 3.6%.

In the seven-month period, many key products recorded positive growth. Vietnam exported 1.1 million tons of coffee, worth US$6 billion, up 7.6% in volume and 65.1% in value. The average export price reached US$5,672/ton, an increase of over 53%. Germany, Italy, and Spain were the largest consuming markets. Notably, the export value of coffee to Mexico increased by 88 times.

Rubber exports reached 893,800 tons, valued at US$1.61 billion, a slight decrease in volume but a 13.9% increase in value thanks to a 16.3% rise in the average export price. China remained the largest consumer of rubber with a 69.3% market share.

Cashew nut exports reached over 409,000 tons, valued at US$2.79 billion, a 3.3% decrease in volume but a 17.4% increase in value due to a 21.4% rise in export prices. China, the United States, and the Netherlands were the three main markets.

Similarly, pepper exports reached over 145,000 tons, valued at nearly US$1 billion, an 11.6% decrease in volume but a nearly 30% increase in value due to a nearly 47% rise in average prices. Exports to the UK doubled, while those to the UAE decreased.

In terms of rice exports, while the export volume reached 5.5 million tons (up 3.1%), the export value reached US$2.81 billion (down 15.9%) due to an 18.4% decrease in rice prices compared to the same period last year. The Philippines was the largest consuming market, accounting for 42.6% market share. Rice exports to Côte d’Ivoire nearly doubled, while those to Malaysia decreased significantly.

Fruit and vegetable exports in the first seven months reached US$3.92 billion, a slight increase of 0.9%. China was the largest market, accounting for more than 52% market share, but export value decreased by 24.3%. Meanwhile, exports to the United States increased by 65.5%.

The trade balance of Vietnam’s agriculture, forestry, and fisheries sector in the first seven months of 2025 is estimated to reach a surplus of US$11.52 billion, up 15.9% over the same period last year. In terms of product groups, forestry, aquatic, and agricultural products are the three groups with a trade surplus. Specifically, the forestry group is estimated to have a surplus of US$8.39 billion, up 4.9% over the same period in 2024; the aquatic group has a surplus of US$4.18 billion, up 7.5%; and the agricultural group has a surplus of US$4.28 billion, up 33.4%.

There were six agricultural, forestry, and aquatic products with trade surpluses of over US$1 billion, including wood and wood products with a surplus of US$7.7 billion, up 4.1% over the same period last year; coffee with a surplus of US$5.78 billion, up 66%; vegetables and fruits with a surplus of US$2.47 billion, down 7.1%; shrimp with a surplus of US$2.08 billion, up 16.3%; rice with a surplus of US$1.81 billion, down 30%; and tra fish with a surplus of US$1.11 billion, up 8.3%.

However, there were also five products with trade deficits, including animal feed and raw materials with a deficit of US$1.89 billion, down 17.2% over the same period last year; cotton of all kinds with a deficit of US$1.88 billion, up 10.1%; preparations of horticultural products with a deficit of US$1.72 billion, down 6.3%; corn with a deficit of US$1.29 billion, down 5.4%; and meat and edible by-products of slaughtered animals with a deficit of US$917.7 million, up 10.4%.