A report from the General Department of Vietnam Customs showed that Vietnam earned nearly USD 862.90 million from fishery exports in September, a decline of 13.70 percent against August's figures.

While export values to the US fell by 9.60 percent to USD 142.80 million during the month, China spent some USD 146.30 million on Vietnamese products, a 117.60 percent increase on year, becoming Vietnam's largest fishery importer in September. Japan was the country's third largest importer with USD 142 million in trade, a 90 percent increase on year.

By the end of September, Vietnam earned around USD 8.49 billion from fishery imports, 37.30 percent up compared to last year.

Although exports to the US fell in recent months, the remained the biggest importer of Vietnamese fishery products in the first nine months of this year with values reaching USD 1.77 billion (a 21.70 percent on-year increase), Japan came second with USD 1.27 billion (32.80 percent on-year-increase), and China came third with USD 1.21 billion (85 percent on-year increase).

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), inflation reduced demand for many products but catfish remained a popular export item of Vietnam thanks to its affordable price.

In September alone, catfish exports recorded growth of 97 percent to USD161 million. Meanwhile, shrimp exports topped nearly USD350 million during the month, marking a more modest 13 percent on-year increase, the worst growth among major fishery products.

The lack of raw shrimp supplies and the slowing demand in export markets due to inflation resulted in a decline in shrimp exports in September compared to the previous month, VASEP said.

With positive export performance in the first nine months, the country's fishery exports are well on track to fulfil the yearly USD 10 billion target by the end of November. VASEP also expects exports to some Asian markets including China, Japan, and South Korea will continue to grow in the final months of 2022 and to 2023, especially if China removes their zero-Covid policies.

Source: dtinews