Occupying a unique position in United States, Vietnamese seafood confidently collects 11 billion USD

Published 2022년 11월 29일

Tridge summary

Vietnam's seafood exports have seen a significant increase of 33% in the first 10 months of 2022, generating over US$9.4 billion, with the pangasius industry experiencing the highest growth of 77% and the highest export price increase of 50%. The shrimp industry also saw an 18% growth, but faced competitive pressure from Ecuador and India. Tuna exports are on track to reach a record of USD 1 billion in 2022, and squid and octopus exports also increased. However, seafood exports slowed down in the second half of 2022 due to reducing imports and increasing costs. Challenges such as economic recession, domestic inflation, and conflicts like the Russia-Ukraine conflict are expected to impact the seafood export industry in 2023.

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

Original content

According to information from the Vietnam Association of Seafood Exporters and Producers (VASEP), by the end of October, the country's seafood exports had reached over US$9.4 billion, up 33% over the same period last year. Notably, the export turnover of key industries recorded double-digit growth compared to the same period last year. Accordingly, 77% is the impressive growth of the pangasius industry with a turnover of 2.1 billion USD in the past 10 months, helping this industry increase its proportion in the structure of main export products, accounting for nearly 23%. Pangasius export prices increased the most, 50% over the same period and the opportunity to increase market share due to the Russia-Ukraine conflict, which limits the supply of white fish, are the two main factors that boosted pangasius exports in 2018. last time. For the shrimp industry, although it still increased by 18% and brought the highest export value of nearly 3.8 billion USD, the proportion of this ...

Source: Danviet