EU remains top market of Vietnamese shrimp

The European Union (EU) was the largest market of Vietnamese shrimp in the first two months of 2019, according to the Vietnam Association of Seafood Entrepreneurs (VASEP).

EU remains top market of Vietnamese shrimp

The European Union (EU) was the largest market of Vietnamese shrimp in the first two months of 2019.

During January-February, export value of Vietnamese shrimp fell year-on-year by 15.2 percent to 373.6 million USD. Accounting for 20.5 percent of total export turnover, the EU secured its position as biggest buyer of Vietnamese shrimp. Within the EU, the UK, the Netherlands and Germany were the top purchasers.

White-leg shrimp continued to occupy a key position in this market, making up 82 percent of total shrimp shipments.

 

Spending 67.7 million USD on Vietnamese shrimp in the period, Japan was the second largest buyer. Experts have said that shipments to the East Asian country have shown audacious signs from the outset of the year, with the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) taking effect from January, and completion of tax reduction progress under the Vietnam-Japan Economic Partnership Agreement (VJEPA). Local firms may bolster exports to the market as Japan has applied a zero percent tariff on Vietnamese seafood.

Meanwhile, China ranked third by spending 62.3 million USD on Vietnamese shrimp. Currently, Vietnam is the sixth largest shrimp supplier for China with 5.7 percent of the market share.

VASEP eyes more than 4 billion USD in shrimp exports this year thanks to free trade agreements. It said the shrimp sector would make a breakthrough in exporting to 28 EU countries – enjoying low import tariffs once the EU-Vietnam Free Trade Agreement takes effect – for an estimated export value of 1 billion USD.-VNA

 
 

Other News

.
BUSINESS NEWS HEADLINES TODAY
BUSINESS NEWS HEADLINES TODAY
BUSINESSicon  15/02/2020 

Coronavirus outbreak hits 322 enterprises

Vietnam’s economy to expand 6.25% if coronavirus outbreak ends in Q1
Vietnam’s economy to expand 6.25% if coronavirus outbreak ends in Q1
BUSINESSicon  15/02/2020 

Vietnam’s GDP growth is expected to reach 6.25% this year if the outbreak of Covid-19 is contained within the first quarter, according to the Ministry of Planning and Investment.

Apparel firms scramble to make mask production amid coronavirus spread
Apparel firms scramble to make mask production amid coronavirus spread
BUSINESSicon  16/02/2020 

Many textile and garment businesses are scrambling to make face masks given the coronavirus outbreak-triggered lack of surgical masks.

Vietnam’s estate companies seek investment opportunities in foreign markets
Vietnam’s estate companies seek investment opportunities in foreign markets
BUSINESSicon  15/02/2020 

More and more domestic real estate firms have begun to seek investment opportunities in global markets, according to Savills Vietnam.

Bad debts may increase amid coronavirus outbreak
Bad debts may increase amid coronavirus outbreak
BUSINESSicon  15/02/2020 

Bankers anticipate that the coronavirus outbreak will affect the business of many of their clients.

Hundreds of enterprises may have to suspend production because of coronavirus
Hundreds of enterprises may have to suspend production because of coronavirus
BUSINESSicon  15/02/2020 

Hundreds of enterprises, both Vietnamese and foreign invested, are increasingly concerned about supply of components from China.

Enterprises stii need more workers after Tet
Enterprises stii need more workers after Tet
BUSINESSicon  16/02/2020 

Enterprises in HCM City, Binh Duong and Dong Nai complain that they have not been able to recruit workers since Tet.

Virus rouses food safety awareness in Vietnam
Virus rouses food safety awareness in Vietnam
BUSINESSicon  15/02/2020 

Supermarkets and retailers in Vietnam are making bank from the public rushing to stock up on indispensable food supplies, which could ultimately push forward an increase in awareness of food handling and safety.

Plastic packagers looking to Vietnam
Plastic packagers looking to Vietnam
BUSINESSicon  14/02/2020 

The unfavourable prospects of the Thai packaging industry, dimmed by the ban on single-use plastic bags in the country, may force packaging manufacturers to shift business to nearby markets like Vietnam.

Foreign investors look forward to Vietnam’s imminent IPOs in 2020
Foreign investors look forward to Vietnam’s imminent IPOs in 2020
BUSINESSicon  14/02/2020 

Nearly 100 Vietnamese companies will need to hit the road for share auctions by the end of 2020 to meet the government’s target of privatizing state firms.

More than 800 firms stop operating or scale down because of coronavirus
More than 800 firms stop operating or scale down because of coronavirus
BUSINESSicon  15/02/2020 

More than 800 businesses and 8,700 employees have been affected by the novel coronavirus epidemic, according to the Ministry of Labour, Invalids and Social Affairs.

PM Phuc allows border gates to re-open
PM Phuc allows border gates to re-open
BUSINESSicon  14/02/2020 

Prime Minister Nguyen Xuan Phuc approved the resumption of imports, exports and transport of goods through three sub-border gates between Vietnam and China to help local firms.

VN industrial sector’s growth likely to slow down due to COVID-19
VN industrial sector’s growth likely to slow down due to COVID-19
BUSINESSicon  14/02/2020 

Growth of Vietnam’s industrial sector is likely to slow down in the first quarter of 2020 due to negative impacts from the acute respiratory disease caused by a novel coronavirus (COVID-19), according to the General Statistics Office (GSO).

VN to issue lists of preferential tariffs under EVFTA
VN to issue lists of preferential tariffs under EVFTA
BUSINESSicon  14/02/2020 

The Vietnamese Government is set to issue a decree on the lists of preferential export tariffs and special preferential import tariffs to implement the EU-Vietnam Free Trade Agreement (EVFTA) when the deal comes into force in Vietnam.

New driving force for Vietnam-EU relations
New driving force for Vietnam-EU relations
VIDEOicon  14/02/2020 

The European Parliament has ratified the EVFTA and the EVIPA. The ratification has opened up new horizons for more intensive, comprehensive and effective bilateral cooperation 30 years after the establishment of diplomatic ties.

Two scenarios for Vietnam’s economic growth
Two scenarios for Vietnam’s economic growth
BUSINESSicon  15/02/2020 

If the nCoV epidemic lasts a long time, the GDP is expected to decrease.

Money oversupply increases core inflation
Money oversupply increases core inflation
BUSINESSicon  16/02/2020 

Keeping the inflation rate at 4 percent in 2020 will be a challenging task, not only because of the pork price escalation, but also money excess.

BUSINESS NEWS HEADLINES FEB. 14
BUSINESS NEWS HEADLINES FEB. 14
BUSINESSicon  14/02/2020 

Large retail formats to dominate HCM City’s retail market

Vietnam says to ratify EVFTA in May
Vietnam says to ratify EVFTA in May
BUSINESSicon  13/02/2020 

The EVFTA will be ratified in May and take effect in July this year if everything fares well, said Minister of Industry and Trade Tran Tuan Anh.

Japanese firm to attract Vietnamese workers via football
Japanese firm to attract Vietnamese workers via football
BUSINESSicon  14/02/2020 

Japanese electronic device maker Lion Power is tapping into football’s popularity in Vietnam as a way to recruit technical trainees amid a labour shortage in Japan, reported the Asian Nikkei Review.

 
 
 
Leave your comment on an article

OR QUICK LOGIN