Vietnam raked in an estimated 4.5 billion USD from exporting aquatic exports in the first five months of 2022, up over 44.5 percent over the same period last year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
HCM City (VNA)– Vietnam raked in an estimated 4.5 billion USD from exporting aquatic exportsin the first five months of 2022, up over 44.5 percent over the same period last year, accordingto the Vietnam Association of Seafood Exporters andProducers (VASEP).
Despite various challenges and difficulties caused by the COVID-19 pandemic and global changesin the last two years, Vietnamese seafood enterprises have seized opportunities to expand exports, and won orders with much higher prices than those in2021.
The positive resultswere attributed to the recovering and booming demand in many markets, the shortageof supply, and the increasing inflation in many countries.
Vietnamese seafoodprocessors and exporters have fully tapped advantages from the high inflationof the US market, China’s zero-COVID policy, and the strongly recovering demandin the European market to increase their exports to foreign markets.
Notably, exports ofshrimp, tra fish and other key commodities to the US market recorded highergrowths compared to 2021.
Vietnam’s seafood exports to China reached over 700 million USD in the firstfive months, a sharp rise of 94 percent year-on-year. The export of tra fish tothe market accounted for 53 percent of the total seafood exports in the period.
According to Truong Dinh Hoe, General Secretary of VASEP, Vietnam's aquatic export is hoped to hit 9 billion USD in 2022.
To achieve this goal, exporters need tostrictly comply with market regulations as well as meet any additional need for individual market, accurately label their products, and pay attention to controllingthe quality of products, Hoe said.
He also advisedbusinesses to seek opportunities to increase their market share of tra fish in the context of a shortage of whitefish supply in European countries, and have solutions to take advantage of the EuropeUnion – Vietnam Free Trade Agreement (EVFTA)./.
Vietnam’s aquatic product exporters are being hit hard by the impacts of COVID-19, but there are still opportunities for domestic businesses despite the gloomy outlook, experts have said.
The Taiwan Food and Drug Administration (TFDA) has announced a list of 697 Vietnamese fishery companies meeting the conditions for export to Taiwan (China).
The export of aquatic products to the United States posted a sharp growth in the past three months despite the adverse impact of the COVID-19 pandemic on the global economy.
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.
Vietnam earned 3.57 billion USD from aquatic exports in the first four months of 2022, posting a year-on-year increase of 43.7 percent, according to the Ministry of Agriculture and Rural Development.
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Illustrative image (Photo: VNA) 
