Aquatic exports enjoy positive growth in November

VASEP statistics show seafood businesses earned nearly US$840 million from exports in November, representing a year-on-year rise of 6%.

This is positive growth of Vietnamese seafood exports following contractions in previous months, including 5% in October and 22% in September.   

However, the November growth could not prevent the seafood industry’s cumulative export earnings dropping over the past 11 months. The statistics show Vietnam raked in US$8.27 billion from seafood exports during the 11-month period, representing a fall of 19% year on year.

Notably, pangasius exports brought in roughly US$1.7 billion, a figure 26% lower than the same period last year. The decline was attributed to a falling export price of the product in major markets, especially the United States and China.

By contrast, pangasius exports are showing more promising signs in other markets, such as Mexico, Canada, Brazil, and the UK.

VASEP also reports that Vietnam raked in US$3.15 billion from shrimp exports during the reviewed period, down 22%, with exports to most major markets witnessing a decrease except for those to Hong Kong (China), Switzerland, and Taiwan (China).

In fact, shrimp exports have been impacted by price competition amid an abundant source of global shrimp supply coupled with lower selling prices.

Meanwhile, tuna exports witnessed positive signs, despite experiencing a downturn of 18% to about US$774 million. Specifically, although tuna exports to the US dropped by 35%, other markets such as the EU, Thailand, Israel, Mexico, Russia, the Republic of Korea, Philippines, and Japan tended to increase their imports of Vietnamese tuna.

VASEP experts say seafood exports this year are projected to gross about US$9 billion, representing a fall of 18% compared to 2022.