Vietnam: With increased orders, seafood exports for the whole year will reach 9 billion USD

Published 2023년 10월 27일

Tridge summary

Vietnam's seafood exports have experienced a decline of 22.6% in the first nine months of this year compared to the same period last year. However, there have been positive signs of recovery in the third quarter, with shrimp, pangasius, and tuna exports showing higher turnover and lower negative growth rates. The future of seafood export sales will depend on the US and Chinese markets, as both countries have displayed increasing demand, although export prices remain lower than the previous year. It is predicted that seafood exports in the fourth quarter of 2023 will amount to approximately 2.4 billion USD, resulting in a total export turnover of 9 billion USD for the year, a 17% decrease from 2022.

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

Original content

Key export products prospered Ms. Le Hang, Communications Director of the Vietnam Association of Seafood Exporters and Producers (VASEP), said that in the first 9 months of this year, Vietnam's seafood exports reached 6.6 billion USD, down 22.6%. compared with the same period last year. Exports dropped sharply in the first half of the year (-27%), from June, the negative growth gradually narrowed. Particularly in September, export sales were only 5% lower than the same period. Therefore, the total seafood export turnover in the third quarter is only 12% lower than the third quarter of 2022 - also the smallest decrease in the first 3 quarters of the year. The group of 3 key export products of Vietnamese seafood including shrimp, pangasius, and tuna all showed more positive signals in the third quarter, with the highest export turnover and the lowest negative growth rate since the beginning of the year. Statistics show that, after a decrease of 28% in the second quarter, in the ...

Source: Vinanet