Seafood exports to US market soar over four-month period

Vietnam’s seafood exports to the United States during the opening four months of the year enjoyed an annual surge of 28% to US$483 million, according to the Vietnam Association of Seafood Producers and Exporters (VASEP).

VASEP data shows seafood exports to the demanding market in April alone skyrocketed by 64% to US$149 million. The export value of shrimp, pangasius, tuna, squid, and octopus climbed by 47%, 136%, 56%, and 83%, respectively.

According to industry experts, local seafood exports to the US in May and June are anticipated to witness a sharp increase following the full reopening of the market from May 20.

During the reviewed period, Vietnamese shrimp exports to the US surged by 25% to US$198 million, making up 21% of the country’s total exports.

Vietnam also raked in US$102 million from exporting pangasius, representing an annual rise of 37%, whilst simultaneously making up 21% of total pangasius exports.

The US accounted for approximately 42% of Vietnam’s total tuna exports with US$94.5 million throughout the reviewed period, an increase of 15% on-year.

It currently represents the leading consumer of Vietnamese shrimp, pangasius, tuna, and crab.

Throughout the past four months, roughly 220 local seafood enterprises were involved in exporting aquatic products to the US, of which 67 companies earned revenue of US$1 million or more each.

With the US moving to reopen its door and recording a recovery in recent times, it is projected to become a crucial export market for Vietnam, India, Ecuador, Indonesia, Thailand and others in the second half of the year, according to economists.