Vietnam's seafood exports to the EU market in the first 6 months of 2021 reached about USD 485.3 million and increased by 20% over the same period in 2020. This increase is much higher than the increase of 14.4%. of the country's seafood exports.

According to the Import-Export Department (Ministry of Industry and Trade), with this result, the EU is Vietnam's fourth largest seafood export market (after the United States, Japan and China), accounting for 11.8% of the total seafood export turnover, increased by 0.6 percentage points over the same period last year.

If considering each month of 2021 (except for February - the month with the Lunar New Year holiday), the export volume and value of the months in 2021 both increase compared to the previous year.

In the first 6 months of 2021 alone, Vietnam's seafood was exported to 25/27 EU markets with a total export volume of 104.3 thousand tons, worth USD 485.3 million, an increase of 16% in volume and an increase of 20% in value over the same period last year. The Netherlands, Germany, Italy, Belgium and France are the largest export markets in this market bloc.

According to the Ministry of Industry and Trade, shrimp is an item with preferential import tax under the Vietnam - EU Free Trade Agreement (EVFTA) with the tax cut immediately, or according to the 3, 5 year roadmap; processed shrimp according to the 7-year roadmap.

Besides, tuna exports to the EU also increased by more than 31%. Preferential import tax under EVFTA on fresh, frozen or chilled tuna fillets will be reduced immediately (except frozen tuna loins/fillets); for canned processed tuna (such as canned tuna fish products, etc.), the EU exempts Vietnam from tax within a quota of 11,500 tons/year.

Therefore, in the first 6 months of 2021, tuna has the second largest export value to the EU, reaching USD 73.3 million, an increase of 31.6%. The EU market accounts for 21% of Vietnam's total tuna export turnover, ranking second after the United States. In which, the export of canned tuna alone reached USD 35.5 million, an increase of 116.6 % over the same period last year.

Exports of clams, oysters, octopus and squid all recorded growth. These items are committed to preferential import tax under the EVFTA, which is reduced immediately or according to the 3-year roadmap. A number of processed product lines of squid, octopus, clams and snails with tax cuts immediately recorded high export growth.

According to the Ministry of Industry and Trade, in the last months of 2021, consumption demand in the EU is tending to recover, plus the special tax incentives from the EVFTA will continue to create favorable conditions for Vietnamese seafood products to increase their competitiveness in the EU market.

Kylie Nguyen