Aquatic export turnover outstrips US$1 billion in October

The above figure raised the total value of aquatic exports to US$8.27 billion in the first ten months this year, a year-on-year increase of 11.4 percent.

This is the first time after 27 months (since June 2022), aquaculture sector reported US$1 billion in monthly export turnover.

Especially, exports to China skyrocketed by 37 percent, making China the top importer of Viet Nam's aquatic products.

Meanwhile, other markets recorded vibrant growth rates, including the U.S. up 31 percent, Japan up 22 percent; the EU up 27 percent; and South Korea up 13 percent.

The U.S. Department of Commerce recently announced preliminary countervailing duties on shrimp imported from Ecuador, India, and Viet Nam. Accordingly, duty rates for Vietnamese shrimp stood at 2.84 percent, significantly lower than the 4.36 percent for India and 7.55 percent for Ecuador.

Earlier, VASEP expects seafood exports in the second half of the year to increase by 15 percent to over US$5.5 billion, bringing exports for the year to nearly US$10 billion, up 12 percent from 2023.

The Ministry of Agriculture and Rural Development lowered its target for seafood export value for 2024 to US$9.5 billion from its previous expectation of US$10 billion./.