WORDS ON THE STREET 70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Oct 09, 2012 / 13:35

Seafood exports enjoy favourable conditions in Q4

Seafood export earnings are expected to hit around US$6.5 billion this year.

The Hanoitimes - Seafood export earnings are expected to hit around US$6.5 billion this year.


The Ministry of Agriculture and Rural Development estimates seafood exports reached 500 million USD in September, bringing the total export value over the past nine months to 4.5 billion USD, 3.5 % more than the same period last year. 

The US is the leading importer of Vietnamese seafood products, accounting for 19 percent of the total market share, followed by Japan (15.1 %), and the Republic of Korea (7.9 %). 

The key tuna and crab exports were the only ones to rise, by 51.6 percent to 414 million USD and by 13.2 % to 74.9 million USD respectively. Other seafood product exports declined, including shrimp - down 3.6 % to 1.5 billion USD - and tra fish - down 1.2 % to 1.2 billion USD. 

The seafood sector is still recovering from a number of recent difficulties. Stock shortages and prolonged shrimp disease hit the sector particularly hard. Around 300 seafood processing factories were forced to close. 

Tra fish and shrimp import volumes are expected to increase during the remainder of 2012 as the Christmas and New Year holidays are drawing near. The upcoming harvesting season means seafood material for processing will also be abundant