SEAFOOD EXPORT HIT 8.0 BILLIONS USD

SEAFOOD EXPORT HIT 8.0 BILLIONS USD

According to Customs statistics, by mid-November 2021, the country's seafood exports reached US$7.52 billion, up 3.2% over the same period last year. Seafood exports in the first half of November 2021 recovered with a growth rate of 24%, it is estimated that in November, exports will reach about 875 million USD, up 18%. Accordingly, by the end of November 2021, seafood export is estimated at nearly 8 billion USD, up 3.7% over the same period in 2020.

After Resolution 128, localities have adapted to flexibly and effectively combat the epidemic, whereby aquaculture production in general and shrimp processing production in particular have gradually recovered, especially at the end of the year, demand from all markets increased, import prices also tended to increase.

Shrimp exports in November increased by 11%, estimated at nearly $350 million, according to which shrimp exports by the end of November reached over $3.5 billion, up nearly 3% over the same period.

Pangasius exports also had a positive signal with an increase of 23% in November to about USD 178 million. Accumulated pangasius exports by the end of November reached nearly $1.4 billion, up 2.5% over the same period last year.

Tuna, squid and octopus exports are recovering strongly with growth of 48% and 37% respectively in November, estimated at $76 million and $69 million, respectively. By the end of November 2021, tuna exports reached 670 million USD, up 13%, squid and octopus exports increased 7% to 543 million USD.

As of the end of November, exports to the US still had the strongest growth with nearly 1.87 billion USD, up 26%, exports to the EU are also recovering positively with a 10% increase to reach 957 million USD, to South Korea increased slightly 2.7% reached 717 million USD. However, exports to China still fell 22% to 1 billion USD, to CPTPP countries reached nearly 2 billion USD, down slightly by 1.5%.

Although the Covid-19 situation still affects production capacity and efficiency, in the new situation, businesses are making efforts to both fight the epidemic and boost production to take advantage of the increasing market demand. Therefore, seafood exports in the last month of the year will continue to recover like today.

Source: VASEP