2020 aquatic product exports predicted to hit 8.6 bln USD

December 04, 2020 | 08:46

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Vietnam may earn 8.6 billion USD from exporting aquatic products this year, the same as the figure in 2019, the Vietnam Association of Seafood Exporters and Producers (VASEP) has forecast, adding that it would be a result beyond the expectations of most given the COVID-19 pandemic.

2020 aquatic product exports predicted to hit 86 bln usd

Shrimp processing for export (Source: VNA)

Export turnover stood at 7.8 billion VND in the first 11 months of the year; also the same year-on-year.

After significant declines at the beginning of the year due to the pandemic, aquatic product exports began recovering in July, with November posting impressive year-on-year growth of 13 percent.

Shrimp remains the main export item, with double-digit month-on-month growth seen since June, including a notable 25 percent in September and October and 28 percent in November. Exports totalled 3.5 billion USD in the first 11 months, up 14 percent year-on-year.

Meanwhile, overall seafood shipments have recovered since August and reached 2.9 billion USD in the first 11 months, down 1.2 percent year-on-year.

The US, the EU, and China continued to be the main importers of Vietnam’s aquatic products, with growth of 25 percent, 30 percent, and 15 percent, respectively.

Vietnam is estimated to earn 1.65 billion USD from aquaculture exports to the US, 992 million USD to the EU (excluding the UK), and 1.48 billion USD to China.

VNA

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