Vietnam's Agro-Forestry-Aquatic Exports Show Strong Growth Momentum

Vietnam's agro-forestry-aquatic product exports maintained positive growth momentum in July, building on a strong start to the year. Reports indicate a significant year-on-year increase for the month, contributing to a solid cumulative performance in the first seven months of 2026. Total agro-forestry-aquatic product export turnover from January to July was estimated at approximately US$30.69 billion, marking a 9.2% rise compared to the same period last year. January alone saw a remarkable surge of nearly US$6.51 billion, up 29.5% year-on-year. Despite a temporary dip in export value in August, the overall eight-month performance remained positive, with most product groups posting growth. This export strength is underpinned by Vietnam's broader economic recovery and the effective utilization of Free Trade Agreements (FTAs). Utilization rates for agreements like the EU-Vietnam Free Trade Agreement (EVFTA), the ASEAN-India FTA, and the ASEAN-Australia-New Zealand FTA remain high, with some agreements recording utilization rates of 30-50%, boosting export competitiveness. International institutions have consequently revised Vietnam's economic growth forecasts upward. Standard Chartered projects GDP growth of 9.5% in 2026 and 11% in 2027, reflecting confidence in the country's economic trajectory. The sector's GDP expanded by more than 3.8% in the first six months of 2026, exceeding the government's 3.7% target, supported by stable production. Furthermore, realized Foreign Direct Investment (FDI) in Vietnam reached an estimated US$15.2 billion in the January-July period, an 11.8% increase from the previous year and the highest seven-month disbursement in five years. This indicates Vietnam's continued attractiveness as an investment destination. Large projects, such as SCG Chemicals' LSP with an initial investment of over US$5 billion, are contributing significantly. The Vietnamese government is also continuing its efforts to foster economic growth, including streamlining customs procedures through digitalization and promoting enterprise establishment. Over 125,900 new enterprises were established between January and July, a 16.9% increase year-on-year. These initiatives are crucial steps toward Vietnam's goal of having 2 million active enterprises by 2030, marking not just a numerical milestone but the emergence of a more resilient engine of growth. Vietnam's total import-export turnover reached US$659.58 billion in the first seven months of 2026, up 28.1% year-on-year, with total trade potentially exceeding US$1 trillion in 2026. The country's July CPI increased 3.08% from December 2025 and 4.45% year-on-year, with average CPI in the first seven months rising 4.39%. Source: VietnamPlus English