Vietnamese Fish Export Could Bring US $ 9 Billion in 2021

VIET NAM
Tuesday, August 24, 2021, 07:00 (GMT + 9)

Experts believe that Vietnamese fish exports could grow to US $ 9 billion this year thanks to the implementation of next-generation free trade agreements, VietnamPlus reported. Vietnamese fish exports could generate US $ 9 billion in 2021

Despite the development of the COVID-19 pandemic, in the first 7 months of 2021, the country earned $ 4.88 billion from the export of aquatic products, an 11% increase over the same period last year.

The increase was due to the efforts of companies amid COVID-19, which is causing labor shortages and difficulties in purchasing raw materials, as well as social distancing measures in 19 southern settlements in an attempt to contain the spread of the pandemic.

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It should be noted that pangasius exports reached 458,700 tonnes between January and July, amounting to US $ 931 million, up 13.54% in volume and 17.94% in value over the same period last year.

As of the end of July, revenues from exports of aquatic products to the United States exceeded $ 1.14 billion, accounting for 22.9% of Vietnam's total revenues, with an increase of 36% over the same period last year.

In addition, the supply of tuna to the United States in recent months has grown 1.5 times compared to the same period last year. This market currently accounts for the lion's share (43%) of Vietnam's tuna exports.

<-- Photo: courtesy Morrison's UK

Fish exports to other markets, including Mexico, Brazil, the United Kingdom, Thailand and the Netherlands, have also grown significantly.

Exports to Africa increased over the same period last year by 32% in physical terms and by 16.7% in value terms in the first 7 months.

According to the Vietnam Association of Seafood Producers and Exporters (VASEP), the $ 9 billion export revenue target will be met this year if COVID-19 is quickly brought under control and the logistics system resumes normal operations.

The General Directorate of Fisheries advised companies to maintain supply to traditional markets for sustainable growth, noting that from early 2022, China will apply a new policy on imports of Vietnamese agriculture, forestry and water products.

Photo: courtesy VASEP

China is currently Vietnam's largest aquatic products market, accounting for 26% of the total exports.

Shrimp exports are also promising as Vietnam's major trading partners such as the United States, Japan, the Republic of Korea and Germany have increased their imports.

Source: Dalekaya Okraina (translated from original in Russian)
[email protected]
www.seafood.media

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