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Vietnam’s seafood exports near $5.8bn in January-June

Vietnam’s seafood exports near $5.8bn in January-June

Sunday, July 03, 2022, 18:58 GMT+7
Vietnam’s seafood exports near $5.8bn in January-June
The shrimp packaging process at Saigon Aquatic Products Trading JSC in Ho Chi Minh City. Photo: Quang Dinh / Tuoi Tre

Vietnam’s seafood exports were estimated at nearly US$5.8 billion in the first half of 2022, up 40 percent compared to the same period last year, the Vietnam Association of Seafood Exporters and Producers (VASEP) reported.

Although the growth has shown signs of slowing down, seafood exports in June still brought in over $1 billion, similar to May and up 23 percent year on year.

In the second quarter of 2022, the industry's sales exceeded $3.2 billion, a nearly 36 percent increase compared to the $2.4 billion recorded in the same period of 2021.

Shrimp exports in the first six months topped $2.3 billion, up 33 percent year on year and accounting for 40 percent of the country’s seafood shipments.

Inflation and lack of raw materials are posing challenges for local shrimp businesses, thus many firms have decided to increase the proportion of value-added shrimp and sell them to demanding markets such as Japan, the U.S., and the EU.

With regard to pangasius, the country's exports in the first half of this year were worth over $1.4 billion, up 83 percent over the same period last year and making up a quarter of seafood export sales.

Pangasius exports to the UK surged six times year on year, while shipments to Spain nearly tripled. Exports to France, the Netherlands, Germany, and Belgium also surged 45-90 percent.

Tuna exports in this year’s first half jumped 56 percent year on year to $553 million, occupying nearly 10 percent of Vietnam’s seafood exports.

The high demand for tuna in the U.S. market contributed substantially to the growth.

The turnover of cephalopod products was valued at $344 million during this period, up 29 percent year on year.

Squid exports reached $197 million, a 45 percent year-on-year rise, while octopus exports jumped 12 percent to $147 million.

The exportation of bivalve molluscs, crabs, and other fish also recorded about 11-54 percent growth compared to 2021’s first half.

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Duy Khang - Thao Thuong / Tuoi Tre News

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