Seafood exports fetch US$4.63 billion in seven months
Vietnam’s seafood export value in the first seven months of 2018 was estimated at US$4.63 billion, up 6.3% over the same period last year, according to the Ministry of Agriculture and Rural Development (MARD).
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The US, Japan, China and the Republic of Korea were the largest importers of Vietnamese seafood in the first half of this year, accounting for 53.5% of the total value.
Seafood exports also saw strong growth in the Netherlands (56%), Germany (27.2%) and China’s Hong Kong (23.9%).
During the January-July period, Vietnam imported US$984 million worth of seafood, a year-on-year increase of 27.8%.
According to the MARD’s Department of Produce Processing and Market Development, the upcoming imposition of a 10% tariff on all Chinese seafood exports by the US and China’s plan to levy a 25% tariff on US aquatic products will provide an opportunity for Vietnam to boost its exports to these two markets.
Vietnam had a total seafood output of more than 7.2 million tonnes in 2017, including roughly 3.4 million tonnes coming from catching, and over 3.8 million tonnes from aquaculture, according to the ministry.
