Vietnam's seafood exports enjoy strong surge despite challenges

Published 2022년 5월 27일

Tridge summary

Vietnam's aquatic exports have seen a significant increase in the first five months of 2022, with earnings estimated at $4.5 billion, a rise of over 44.5% compared to the same period last year. This growth is attributed to market recovery, supply shortage, and inflation in various countries. The US market, in particular, has provided opportunities for higher prices. Seafood exports to China surged by 94% to over $700 million. To reach the projected $9 billion in aquatic exports for 2022, Vietnam's seafood processors and exporters are urged to comply with market regulations, ensure product quality, and fully utilize the benefits of the EU-Vietnam Free Trade Agreement.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

ABO/NDO – 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). Despite various and difficulties caused by the COVID-19 pandemic and global changes in the last two years, Vietnamese seafood enterprises have seized opportunities to expand exports, and won orders with much higher prices than those in 2021. The positive results were attributed to the recovery and growing demand in many markets, the shortage of supply, and the increasing inflation in many countries. Vietnamese seafood processors and exporters have fully tapped advantages from the high inflation of the US market, China's zero-COVID policy, and the strongly recovering demand in the European market to increase their exports to foreign markets. Notably, exports of shrimp, tra fish and other key commodities to the US market recorded ...

Source: Baoapbac