Vietnam's seafood benefited unprecedentedly because the US and EU export market reopened many activities after the Covid-19 vaccine program

Published 2021년 6월 4일

Tridge summary

Vietnam's seafood exports, including pangasius, basa, shrimp, fish cakes, tuna, octopus, and clams, have seen a significant increase in the first five months of 2021, with a 13.39% rise in volume and a 12.46% increase in value compared to the same period in 2020. This growth is attributed to the reopening of major export markets like the US and EU. The UK is the second-largest market for Vietnam's warm water shrimp, with a significant increase in imports from Vietnam despite a decrease in imports from India. The UK-Vietnam Free Trade Agreement, effective from May 1, 2021, is expected to further boost Vietnamese shrimp exports to the UK by removing the export tax. However, Vietnamese shrimp exporters may face competition from Ecuadorian products.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to the Import and Export Department (Ministry of Industry and Trade), seafood export is one of the bright spots in the first 5 months of 2021. Specifically, in May 2021, Vietnam's seafood exports were estimated at 184,000 tons, worth $650 million, up 23.04% in volume and 16.86% in value compared to May 2020. Generally, in the first 5 months of 2021, Vietnam's seafood exports are estimated at 806,200 tons, worth US$3.239 billion, up 13.39% in volume and 12.46% in value over the same period in 2020. This result shows that Vietnamese businesses have made good use of opportunities and overcome difficulties caused by the impact of the Covid-19 epidemic. Notably, the export of many seafood products of Vietnam increased sharply compared to the same period in 2020 such as: pangasius, basa, shrimp of all kinds, fish cakes, tuna of all kinds, octopus, clams ... The export value of these items all increased stronger than the increase in volume, showing that the average export price ...
Source: Danviet

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