Seafood exports could reach US$ 7 billion

According to VASEP’s forecast, Viet Nam’s seafood exports in 2016 could reach US$ 7 billion. This resulted from the positive growth rate in the most key commodities, coupled with the favorable signals of the import market in the last months.
Seafood exports could reach US$ 7 billion

According to VASEP, by the end of the third quarter of 2016, exports value of most seafood items have seen a slight increase over the same period last year. In particular, shrimp export increased by 5.6%; tra fish up 6.2%; tuna up 3.8%; other fish increased by 7.3% and crabs and other crustaceans up 10.4%.

Shrimp remains the leading item with highest value, reaching nearly US$ 2.25 billion, up 5.6% from the same period in 2015. In particular, white-legged shrimp accounted for 61.3% of the total shrimp export and up 11.2% over the same period last year. Demand for shrimp imports in some markets such as the EU, South Korea and Japan in the last quarter is forecast to increase. It is forecasts the shrimp export turnover in 2016 would reach US $ 3.1 billion, up 5% over the previous year.

Regarding tra fish, in spite of facing many difficulties in export markets tra fish exporters have tried their best to boost their exports. By the end of September 2016, tra fish exports reached US$ 1.23 billion, up 6.2% compared to the same period last year. According to VASEP, in the US market, Vietnamese tra fish exporters are facing two major barriers including the anti-dumping duty and inspection program of catfish. As a result, Vietnamese tra fish exporters turned to China market. In the first 9 months of this year, tra fish export to this market saw a dramatic increase of 75.6% compared to the same period last year. This made China to surpass EU to become the second largest importer of Vietnamese tra fish. Also, other markets such as ASEAN, Mexico, Brazil, and Colombia saw a unstable trend. Tra fish export value in 2016 is expected to reach US$1.66 billion, up 6.4% compared to the same period last year.

Meanwhile, other seafood export items saw fluctuations. Specifically, tuna export value reached US$354.6 million, up 3.8%; fish of all types export value reached US$816.5 million, up 7.3%; mollusks exports including squid, octopus and bivalve mollusks reached 360.4 million, down 3.4%; crabs and other crustaceans export value reached 91.2 million, up 10.4% over the same period last year.

It is forecast that total seafood export value in 2016 would reach US$ 7 billion, up 5.5% compared to 2015.

Giáng Hương