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Vietnam's seafood exports increased by 14% in 5 months

Christian Fernsby |
According to Vietnam Association of Seafood Exporters and Producers (VASEP), in May 2021, seafood exports continued to recover positively when growing by 24%, with a turnover of nearly 790 million USD.

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Topics: VIETNAM   

Cumulative seafood exports in the first 5 months of the year reached 3.27 billion USD, up 14% over the same period in 2020.

According to the analysis of VASEP, after growing 23% in April, shrimp exports continued to maintain a high growth momentum in May, with an increase of 25%, shrimp export turnover reached 375 million USD. By the end of May, Vietnam’s shrimp exports had reached 1.34 billion USD, up 14% over the same period in 2020.

In May, Tra fish exports were higher than expected with an increase of 26% to 134 million USD. Tra fish export turnover in the first 5 months of the year reached 623 million USD, up 12% over the same period last year.

In the first 5 months of the year, seafood exports still achieved a good increase of 14.5% over the same period last year, reaching a turnover of 1.3 billion USD. Tuna exports reached 292 million USD, up 21% over the same period in 2020.

In particular, in April and May, tuna exports achieved an impressive increase of 1.5 times higher than the same period last year, which is a positive signal for exports in the coming months.

Seafood exports increased by 12%, reaching 698 million USD; Exports of squid and octopus also recovered positively, up 11% to 212 million USD. Notably, exports of bivalve molluscs increased sharply by 81% in May, contributing to the exports of the first 5 months of the year to nearly 49 million USD, up 45% over the same period last year.

According to VASEP, the supply of seafood raw materials for export processing is currently quite stable, especially for shrimp and Tra fish products. The source of imported seafood materials is more difficult due to the impact of the COVID-19 pandemic.

Therefore, the main factor determining the recovery of Vietnam’s seafood exports in the current period is the markets. Accordingly, the US, EU and member countries of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) are the markets that play a dominant role in the growth of Vietnam’s seafood exports.


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