Aquatic exports record two-digit growth in January

Illustrative image (Source: VNA)

Hanoi (VNA) – Vietnam raked in 700 million USD from aquatic exports in January, a year-on-year rise of 15.2 percent, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

China, Japan, the US and the EU were the biggest importers of Vietnam’s aquatic products in the month.

China topped the list with growth of 50 percent to 109.26 million USD, followed by Japan with 100.71 million USD, up 18.1 percent.

The US came third with an import turnover of 95 million USD, a year-on-year increase of 17.1 percent, while the EU posted an annual decrease of 9.1 percent to 86 million USD.

In January, most aquatic products recorded good growth, except for shrimp due to fierce competition from markets like China, India and Ecuador.

Specifically, shrimp export turnover was estimated at 190.7 million USD, down 10.6 percent against the same period last year.

On a positive note, tra fish exports rose 34.7 percent to 192 million USD and tuna exports hit 48 million USD, a year-on-year rise of 16.9 percent. 

VASEP Secretary General Truong Dinh Hoe said in 2018, the aquatic sector exported nearly 9 billion USD worth of products, a figure expected to grow from 15 to 18 percent to reach 10 billion USD in 2019.

The backbone for this year’s growth target lies in tuna exports because there is plenty of room to develop this fish, he said.

The shrimp sector aims to boost exports to the EU to 1 billion USD in 2019 from 750 million USD in 2018, he added.

Apart from the quality of products, goods certification and added value, businesses should outline plans to make inroads into the EU, Hoe suggested.

He expressed his belief for a better outcome of the aquatic industry in 2019 thanks to new-generation free trade agreements and the State’s favourable policies.