Seafood export sets new record

The Vietnam Association of Seafood Exporters and Producers (VASEP) predicted that the country’s seafood export turnover would reach approximately US$11 billion this year which is considered as a new record for the seafood industry after over two decades of joining the world market, especially in the context of the world under the Covid-19 pandemic.
Seafood export sets new record ảnh 1

Farmers harvest shrimp

General Secretary of VASEP Truong Dinh Hoe informed that domestic seafood export reached US$10.2 billion by end of November 2022.

Vietnam's seafood export accounted for over seven percent of the international market and the country has been the world's third biggest seafood exporter after China and Norway.

The seafood sector occupied three percent of the total exported commodities of the country and seafood export contributed 12 percent of the total value showing that the sector plays an important role in the country's GDP index. 

Chairman of Thuan Phuoc Seafood and Trading Corporation Tran Van Linh said that the company's export this year reached US$120 million, increasing 20 percent over 2021 and the main markets of the company included the United States, Japan, the Republic of Korea, Canada, Germany, France, Russia, Singapore and so on.

However, VASEP said that the seafood export activity in the fourth quarter showed signs of a slowdown due to short demand. It is predicted that the seafood export in 2023 would face difficulties. 

The Vietnam Pangasius Association forecasted that China would strengthen importing seafood, especially pangasius next year and import materials for export to other countries.

To stabilize the production, General Secretary of VASEP Truong Dinh Hoe proposed the State Bank of Vietnam to direct commercial banks to facilitate seafood enterprises' access to ordinary loan packages.

Besides, VASEP also proposed the Government to have support measures to stabilize input material price and adjust USD exchange rates profitable for domestic exporters and reduce the logistics costs.