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ECONOMYTRADE - SERVICE

Seafood exports hit over US$3 billion in 5 months

Updated at Tuesday, 05 Jun 2018, 14:36
The Hanoitimes - In May, Vietnam`s seafood export turnover reached US$700 million, up 2.3% month-on-month, according to the Foreign Trade Agency.
Overall, for the first five months this year, the country's seafood export turnover totaled US$3.1 billion, up 11.1% year-on-year. 
 
Illustration photo.
Illustration photo.
Seafood exported in the first four months was reported at 585,400 tons worth US$2.4 billion, up 3.5% in quantity and 14.3% in value in comparison with comparable period of 2017, data of the General Department of Vietnam Customs showed. 
Shrimp continues to be Vietnam's largest seafood export staple, with its value reaching US$999.2 million for 103,500 tons, up 12.7% in volume and 11.9% in value year-on-year. 
The country shipped 256,000 tons of pangasius products for US$605 million, down 1.6% in quantity but up 17.4% in value. The average export price of pangasius has increased sharply by 19.3% year-on-year. 
Vietnam's pangasius exports to China continued to record year-on-year strong growth of 43 percent to reach US$145 million in the first four months of 2018, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
With these changes, China has surpassed the US to become the biggest importer of Vietnamese pangasius. Vietnam is currently the third largest provider of white fish for China, after Russia and Norway.
China's demand for white fish is anticipated to continue growing in the time ahead, which means there is still large room for Vietnamese pangasius, assessed VASEP.
Vietnam's seafood trade within Asia surged in 2017, reaching a combined export value of US$4 billion, 28% higher year-on-year. 
According to customs authorities, Vietnam exported seafood to seven countries and two territories in Asia in 2017. Japan was its biggest export market last year, rising 18.6% year-on-year to US$1.3 billion in value, followed by China with US$1.1 billion, jumping 59.4% from 2016.
Nguyen Tung
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