Seafood exports increased by 40% in the first In the first quarter of 2022, the country's total seafood export turnover reached USD 2.4 billion, an increase of 40% over the same period last year despite the difficulties caused by the conflict between Russia and Ukraine, which disrupted seafood exports to this market, and increased the costs of transportation, raw materials for production and processing, and exporting aquatic products.

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), after increasing 44% in January and 62% in February, seafood exports in March 2022 achieved slower growth, but sales were still significantly higher than in the first 2 months of the year.

Total shrimp export turnover in the first quarter of 2022 reached over USD 900 million, 37% higher than in the first quarter of 2021.

Accordingly, seafood export in March 2022 is estimated at USD 920 million, still maintaining a growth rate of 25%. Thus, in the first quarter of 2022, the country's total seafood exports reached USD 2.4 billion, an increase of 40% over the same period last year despite the difficulties caused by the conflict between Russia and Ukraine, which disrupted seafood exports to this market and increased costs of transportation, raw materials for production and processing, and export of aquatic products.

The positive export results are mainly due to the fact that pangasius is still recovering strongly. In the first 3 months of the year, pangasius exports are estimated at USD 646 million, an increase of 88% over the same period in 2021. Pangasius is regaining its position in the structure of export seafood products, so far accounting for 27% of seafood export value.

Next is shrimp with total export turnover in the first quarter of 2022 reaching over USD 900 million, 37% higher than in the first quarter of 2021. The high demand for shrimp in the main markets along with an increase in average export prices are the factors that helped shrimp export turnover to exceed the previous year.

Regarding the market, seafood exports to main markets in March 2022 still maintained high growth. In which, exports to the US increased by 42%, to China by 77%, to the EU by 37%, to South Korea by 23%. However, exports to Japan are only equivalent to March 2021.

Kylie Nguyen