VOV.VN - Vietnam’s seafood exports have encountered difficulties over the past months due to the COVID-19 impact but are expected to grow again in the fourth quarter to generate US$8.4 billion for the whole year as the global market rallies, according to industry insiders.

Vietnam’s seafood exporters are seeking ways to boost shipments to niche markets, as COVID-19 is disrupting supply chains, hindering logistics services and raising transportation costs.

The US Department of Commerce (DOC) has announced the preliminary results of the 17th period of review (POR17) for the period from August 1, 2019 to July 31, 2020, regarding Vietnam’s tra and basa fish (pangasius) exported to the US.

A consultation session about agricultural and seafood exports to Algeria and Senegal was held on August 11, with the participation of over 100 Vietnamese firms.

The Vietnam Association of Seafood Exporters and Producers (VASEP) and the World Bank (WB) in Vietnam on August 10 released “A Trade-Based Analysis of the Economic Impact of Non-Compliance with Illegal, Unreported and Unregulated Fishing: The Case of Vietnam”.

The Vietnam Association of Seafood Producers and Exporters forecasts that seafood exports would increase by an average of 7% yearly between 2021 and 2025, reaching US$12 billion in 2025.

Large seafood enterprises have set higher revenue and profit targets this year thanks to positive growth prospects of the seafood export market, especially the US and EU.

VOV.VN - Ho Chi Minh City leads the way for aquatic exports over the opening five months of the year with turnover reaching US$356.5 million, making up approximately 11% of the country’s total seafood exports.

Despite the difficulties caused by the COVID-19 pandemic, shrimp exports have increased remarkably thanks to efforts made by both authorities and businesses.

Vietnam earned US$790 million from exporting aquatic products in May, lifting the total figure in the first five months of this year to nearly US$3.3 billion, a year-on-year rise of 14%.