Viet Nam sustains third largest seafood exporter

In July, Viet Nam earned US$915.9 million from exporting seafood, representing a year-on-year increase of 17.8 percent. In the first seven months, seafood exports rose by 8 percent from the previous year to US$5.32 billion.

In January-July period, aquatic shipment to the U.S. stood at US$963.7 million, up 12.8 percent against the same period last year. Seafood exports also increased to China (up 11.6 percent), South Korea (3.4 percent), Australia (9.1 percent), Canada (34.6 percent), Belgium (14.2 percent), and Israel (42.3 percent).

Seafood xports to Russia soared by 105 percent compared to the same period last year. However, exports to some markets, including Thailand, Taiwan, Hong Kong, and Malaysia dropped.

The Viet Nam Association of Seafood Exporters and Producers (VASEP) forecasts that the final months of the year will continue to present challenges for seafood exports. While the global economy shows signs of improvement, the pace of growth remains slow. High food prices, energy costs, and transportation expenses have led to a cooling of global inflation, but price pressures persist, falling short of desired targets and posing a risk of resurgence.

Aquaculture is considered one of the key industries of the country, contributing significant value to the Vietnamese economy, as well as global logistics services.

The Vietnamese seafood industry is striving to achieve the export target of US$10 billion set for this year./.