Vietnam’s aquatic product exports projected to reach 8.4 billion USD
Vietnam's aquatic product exports are forecast to rake in 8.4 billion USD this year, equivalent to the figure in 2020, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Hanoi (VNA) – Vietnam's aquatic product exports are forecast to rake in 8.4 billion USD this year, equivalent to the figure in 2020, according to the VietnamAssociation of Seafood Exporters and Producers (VASEP).
The association said there is large room for seafood exports, but the sector has faced many difficulties caused by the COVID-19pandemic over the last three months.
Theexport value of shrimp is predicted to reach about 3.8 billion USD, up 3 percentyear on year. Meanwhile, the export of tra fish is likely to earn 1.5billion USD, equal to last year's turnover, and seafood exports are predicted to drop 3 percent to 3.1 billion USD.
According to VASEP Vice Secretary General Nguyen Hoai Nam, seafood production andexports will recover slowly and continue to face difficulties until the end ofthe year due to a lack of raw materials and labourers, and an increase in costs of labour,transport, and COVID-19 prevention.
Theratio of workers vaccinated against COVID-19 in provinces with a thriving fishery industry remains low, he noted, adding that the localities should givepriority to increasing the vaccine coverage for workers in seafoodproduction chains.
Inthe coming time, it is necessary to effectively and practically implementmechanisms and policies to support workers, especially those related to socialinsurance, unemployment insurance, and trade union, Nam said.
༒ He suggested authorities continue to support enterprises in accessing newloans, reschedule debt repayments, reduce interest rates and issue mechanisms to stabilise prices and production costs./.
The export of key aquatic products posted strong rises in many markets in the first quarter of 2021, increasing Vietnam’s aquatic export turnover by 3 percent to 1.64 billion USD.
Vietnam’s aquatic product export is expected to hit 8.7-9 billion USD, a year-on-year increase of 5-7 percent compared with last year's figure as demand is rising in many countries thanks to vaccination, according to the Ministry of Industry and Trade (MoIT).
Vietnam’s aquatic export is hoped to hit 9 billion USD in 2021 thanks to the recovery of consumption in key markets such as the US, the European Union (EU), and other potential markets.
Aquatic exports in the first half of August were strongly impacted by the COVID-19 pandemic, reaching only 263.8 million USD, down 41 percent compared to the second half of July and 30.1 percent from the same period in 2020.
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Illustrative image (Photo: VNA) 
