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Seafood exports increased by 47% after 2 months of deep decline

08/11/2021

After a deep decline for 2 consecutive months due to social distancing, with the easing of social distancing and reopening in localities to restore production, seafood export results in October showed positive signs.

According to the Vietnam Association of Seafood Exporters and Producers, seafood exports in October 2021 reached USD 918 million, an increase of 47% compared to September and nearly equivalent to the same period last year..

The growth figures show that seafood export production is gradually stabilizing and recovering. In which, exports of most of the main products grew again: tuna and squid - octopus both increased by 18%; crabs increased by 13%; shrimp increased by 1.6%.

Pangasius alone still decreased by 18% due to lack of raw materials and production and processing of pangasius in localities remained at moderate level due to the negative impact of the COVID-19 epidemic.

In October 2021, seafood exports to the US recovered the most with an increase of 31%; exports to the EU market increased by 9%; South Korea increased by 20%; Canada increased by 17%. Particularly, exports to China continued to fall deeply by 43%.

Accumulated over the first 10 months of 2021, Vietnam's seafood exports reached USD 7.1 billion, increased by 2.4% over the same period last year. In which, shrimp products reached more than USD 3.2 billion (increased by 2.6%); pangasius reached more than  USD 1.2 billion (increased by 0.2%); tuna reached nearly USD 598 million (increased by 10%); squid - octopus reached more than USD 475 million (increased by 4.5%); other types of fish reached USD 1.36 billion (decreased by nearly 1%). Bivalve molluscs alone still maintained a high growth rate of 39% when reaching USD 113 million.

Among the seafood export markets of Vietnam, the US market accounted for 24% of turnover with nearly USD 1.7 billion, an increase of 25% over the same period. Japan accounted for 15% with USD 1.08 billion, decreased by 7%. China and the EU both accounted for 12% with a value of USD 872 million (decreased by 24%) and USD 864 million (increased by 7%). Exports to South Korea accounted for 9% when reaching USD  643 million (increased by 2%).

 

Kylie Nguyen

© 2019 Vietnam Bank for Agriculture and Rural Development No. 2 Lang Ha street, Ba Dinh district, Hanoi, Vietnam
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