Tra fish exports post strongest growth among fishery products
Tra fish exports have posted the strongest growth among fishery products so far this year while the biggest revenue was recorded in shrimp shipments, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
During the first 11 months, tra fish export value increased 63% from a year earlier to nearly US$2.3 billion. The second fastest growth was seen in tuna, up 40% to US$941 million, followed by squid and octopus with 30% and US$704 million.
Shrimp exports generated over US$4 billion in revenue, rising 14% year-on-year.
The US remains the biggest importer of fishery products from Vietnam, with over US$2 billion in value, up nearly 10%.
Meanwhile, aquatic exports to China and Japan stood at about US$1.6 billion each, the EU more than US$1.2 billion, and the Republic of Korea US$882 million. Members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), including Japan, accounted for more than 26% of Vietnam’s total fishery exports, with nearly US$2.7 billion in value, up 34%.
In total, Vietnam earned US$10.2 billion from fishery exports in the 11 months, increasing almost 28% from the same period in 2021.
However, November marked the first time this year to witness a decline in exports, down over 14% year-on-year to US$780 million.
Le Hang, director for communications at VASEP, said exports have slowed during the latter half as a result of an inflation-triggered decrease in import demand. Overseas shipments are forecast to contract even more in December, and the downward trend may linger into 2023.