Fishery export completely recovers after COVID-19: official
Vietnam’s fishery export has completely recovered after the COVID-19 pandemic, reeling in US$10 billion as of November this year, said General Secretary of the Vietnam Association of Seafood Exporters and Producers (VASEP) Truong Dinh Hoe.
The figure was a record that the sector has achieved after over two decades joining the global market, he noted, adding that the export value is projected to hit US$11 billion in 2022.
In the 11-month period, most of aquatic products posted double-digit growth in export, at between 18% and 77%. Notably, shrimps and Tra fish earned US$4.3 billion and more than US$2 billion, up 30% and over 80% annually, respectively. Meanwhile, the turnover of tuna exceeded US$1 billion for the first time.
Hoe attributed the remarkable growth to Vietnam’s activeness regarding materials and production.
He suggested setting an export target of US$20 billion in the time to come, given the world’s tremendous demand.
However, VASEP also forecast challenges facing the sector in the time to come, as the global economy is entering a phase of slowdown and increasing inflation.
The sector is likely to experience higher inventory level and fierce competition from competitors offering low cost and prices like India and Ecuador.