Vietnam's seafood exports are expected to recover in the second half of the year, mainly driven by the US market

Updated Jun 9, 2023
This will help Vietnam's seafood export turnover to the US in the second half of 2023 increase by 40-50% over the same period. According to the General Statistics Office, seafood exports in May reached 800 million USD, down 24% compared to May 2022. In the first 5 months of the year, seafood exports reached nearly $3.4 billion, down 28% over the same period in 2022. In the seafood industry analysis report, VNDirect Securities Company expects seafood exports in the second half of 2023 to recover when the consumption demand of all three main markets, including the US, EU and China shows signs of increasing. For the US market, VNDirect said that Vietnam's seafood exports to the US in the first four months of this year decreased by 51% over the same period due to rising inflation and high inventories. However, the market's demand for seafood is likely to recover from the second half of 2023 due to cooling inflation, reduced inventory levels and high demand for the year-end ...
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