Accumulated over the first eight months of the year, seafood exports reached USD 2.1 billion, accounting for 38% of the country's total seafood export value and an increase of 7% over the same period in 2020.

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), in August 2021, Vietnam's seafood exports reached USD 224.8 million, a decrease of 22% compared to July 2021 and a decrease of 24% compared to August 2020.

In August 2021, Vietnam's seafood exports fell sharply compared to the previous month and compared to the same period last year. The reason is that production activities are delayed due to social distancing for the prevention and control of the COVID-19 pandemic, processing plants reduce capacity, lack of production materials, supply chain is interrupted, etc.

Vietnam's seafood exports include groups of fish products (except tuna and pangasius, accounting for 51.7% of Vietnam's total seafood export value); tuna (accounting for 22.1%); squid, octopus (accounting for 17%); crabs, sentinel crabs and other crustaceans (accounting for 4.9%); bivalve molluscs (accounting for 4.1%) and other molluscs (except squid and bivalve molluscs accounting for 0.2%).

In August 2021, the export value of all seafood products (except bivalve molluscs) plummeted by double digits from 19-48% compared to August 2020. Other mollusk exports dropped the most by 48%, while marine fish and crab exports fell by 30% and 25%, respectively. Only exports of bivalve molluscs increased by 36%.

However, thanks to the positive growth in the previous months, accumulated in the first eight months of this year, the total value of seafood exports still increased by 7% over the same period in 2020. Only exports of crabs, sentinel crabs and other molluscs decreased by 4% and 36%, exports of the remaining seafood products still grew positively from 4% to 40%. Exports of bivalve molluscs increased the most by 40% to USD 86.8 million, exports of other marine fish, tuna and octopus increased by 5%, 13% and 4% respectively.

The top 5 largest import markets of Vietnam's squid and octopus include South Korea (accounting for 41%), CPTPP (accounting for 24%), EU (accounting for 11%), Thailand (accounting for 11%) and China (accounting for 7%). Compared to the same period last year, the export value of squid and octopus products to the CPTPP and China markets decreased by 5% and 10%, exports to the EU increased the most by 39%, exports to South Korea and Thailand increased by 2% and 12% respectively.

According to VASEP, with the current Covid-19 outbreak, Vietnam's seafood production and export will continue to stagnate in September.

Kylie Nguyen