Processing shrimps for export. (Photo: SGGP)

Vietnam’s exports not entirely rely on aquatic exports

The Office of the Ministry of Industry and Trade (MoIT), on October 24, informed the press that the balance of trade of Vietnamese goods between domestic and foreign-invested (FDI) enterprises was veering strongly, at the same time affirmed that Vietnam's current export turnover does not entirely depend on shrimps and fish.
Farmers harvest shrimps in Soc Trang Province. (Photo: SGGP)

Ministry carries out measures to recover shrimp export markets

Since the beginning of this year, prolonged hot weather and saltwater intrusion have caused disadvantages for shrimp-farming areas in the Mekong Delta. Besides, the Covid-19 pandemic has also affected the export of shrimps, leading to a decline in export turnover.
Aquatic product exports decline by more than 35 percent

Aquatic product exports decline by more than 35 percent

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), due to impacts of the Covid-19 pandemic, most enterprises have suffered a decline of 35-50 percent in export orders as they were canceled and delayed or faced a shortage of raw materials.
Exports forecast to reach US$9 billion this year

Exports forecast to reach US$9 billion this year

According to the Ministry of Agriculture and Rural Development, in the first six months of this year, export value rose by 6.5 percent; total aquatic production reached 3.79 million tons, up 6.2 percent over the same period last year, of which wild fisheries production hit 1.88 million tons, up 5.4 percent; farmed fisheries production touched 1.92 million tons, up 7 percent.
Shrimps, the key export product, have not showed their full potential (Photo:SGGP)

Difficulties hold back aquatic exports

Aquatic product export was estimated to touch US$644 million in the first month of this year, a decrease of 3.9 percent compared to the same period last year, of which pangasius fish exports dropped 4.4 percent and shrimps declined 2.2 percent. Therefore, the export target of $10 billion or a growth of 11 percent for aquatic industry this year is unlikely to be feasible.

Vietnam sees strong growth in aquatic exports to US

Vietnam sees strong growth in aquatic exports to US

Vietnam enjoyed a surge of 46 percent in aquatic products’ export value to the US market in August to $188.7 million , pushing the total revenue in the first eight months of this year to$ 982.9 million up 7 percent over the same period last year.