Seafood exports up nearly 8% in first quarter

In the period, Japan surpassed the US to become the largest consumer of Vietnamese aquatic products with a revenue of US$252.9 million (up 29.5%), accounting for 16.7% of the country’s total seafood exports.

The US came second with a value of US$251.2 million (down 14.8% against the same period last year) and China ranked third with US$144.47 million (up 17.9%).

In general, seafood exports to global markets saw a decline compared to the same period last year, especially Kuwait (-48%), Romania (-39.5%), Iraq (-57.6%) and Turkey (-35.5%). However, exports to traditional markets still enjoyed a growth, even robust growth, namely Israel (+138.6%), Denmark (+107.2%), and Brazil (+75.1%).

The Vietnam Association of Seafood Exporters and Producers (VASEP) has forecast that seafood exports is likely to increase by 5% to around US$7.5 billion this year. However, it is not an easy task for the seafood sector due to technical barriers to trade, unpredictable development of diseases and the shortage of raw materials for processing.

Meanwhile, the US still considers imposing anti-dumping duties on Vietnamese frozen fish fillets.