Aquatic exports forecast to rise to US$8.5 bln next year
Vietnam’s aquatic product exports are forecast to hit US$8.5 billion next year, up nearly 3% from 2017, according to the Vietnam Association of Seafood Exporters and Processors (VASEP).
This year’s figure is estimated at more than US$8.3 billion, representing a year-on-year increase of 19%.
According to the VASEP, the EU has replaced the US as the top importer of Vietnam’s aquatic products, trailed by the US, Japan and China.
Seafood exports to Japan saw two-digit growth with a total revenue of US$ 1.3 billion, up nearly 18% from 2017.
Notably, China has surpassed the US in the list of the largest importers of Vietnam’s tra fish and shrimp. China is now the biggest importer of Vietnamese tra fish and the third largest importer of Vietnamese shrimp, behind the EU and Japan.
Vietnam’s shipment of aquatic products to the US fell slightly by 2.9% year-on-year, primarily due to pressure from catfish inspection that started from August 1,2017 and high anti-dumping tariff. Tra fish exports to the country dropped by 10% annually.
VASEP has forecast that Vietnamese seafood exporters will continue faring well in 2018 as a result of high demand for shrimp products and huge potential of major markets such as China, Japan and the Republic of Korea.
Có thể bạn quan tâm
South Korea raises scrutiny on frozen Vietnamese shrimp South Korea has added frozen shrimp to a list of Vietnamese seafood items subject to inspection for violations of food hygiene and safety standards
Japanese tariffs hobble Vietnamese tuna exports Thai and Filipino tuna exporters have accessed the market tariff-free for years. Vietnam's tuna exports to Japan have steadily declined since 2013 due to except
Vietnam’s shrimp industry faces rough year with $3.4 bln export target Vietnam's shrimp industry is struggling with tight domestic supply and barriers in key import markets while striving to reach the $3.4 billion annual export
Aquaculture Việt Nam 2017 to be held in October As many as 120 businesses from 20 countries are expected to participate in the Aquaculture Việt Nam 2017 Exhibition, scheduled to take place in the Mekong Delta
Vietnam’s catfish exports face bad press in Europe Vietnam’s catfish industry has encountered bad press in recent months. Vietnam’s catfish in Spain, Italy, France and countries where the group has branches.
