return icon

VASEP forecasts 2020 seafood exports at US$8.6 billion

The Vietnam Association of Seafood Exporters and Producers (VASEP) expects that Vietnam will be able to export seafood worth US$8.6 billion this year thanks to a high demand at the end of the year.


Workers of the Minh Phu Seafood Corporation process shrimp at a plant of the firm at Nam Song Hau Industrial Park in Hau Giang Province. VASEP forecasts that Vietnam will be able to export seafood worth US$8.6 billion this year – Photo: VNA

According to the association’s statistics, the country’s seafood exports constantly tumbled in the first half of the year due to the impact of Covid-19 and started recovering in July, the local media reported.

The country reported a 10% year-on-year increase in seafood exports in September, 12% in October and 13% in November.

Thanks to this recovery, Vietnam had earned more than US$7.8 billion from seafood exports as of the end of November.

Shrimp is a key export earner with a double-digit growth rate since June and a surge of 25% in September and October and 28% in November. The revenue from shrimp exports amounted to US$3.5 billion in the 11-month period, up nearly 14% year-on-year.

If the situation is maintained, Vietnam can generate some US$3.85 billion from shrimp exports this year.

As for tra fish, its export turnover plunged 17%-35% from March to September and bounced back in the next two months, sending the total tra fish export revenue in January-November to US$1.34 billion, down 24% from the same period last year. The figures are expected to hit US$1.54 billion and 23%, respectively, versus last year.

Vietnam may record a tuna export revenue of US$720 million this year, while squids and octopus are expected to bring back US$565 million.

The major importing markets of Vietnam’s seafood, including the United States, the European Union and China, posted a respective growth of 25%, 30% and 15% last month.

For the whole year, the revenue from seafood exports stateside may reach US$1.65 billion, up 12% over last year. Meanwhile, the revenue from the European Union was estimated at US$992 million, down 2.4% against 2019, and China with US$1.48 billion, up 5%.

However, China has tightened control over seafood imports since mid-November due to fears over the spread of Covid-19, so seafood exports to this market will grow slower in the last month.  SGT

Vietnam needs seafood solutions

Vietnam needs seafood solutions

Vietnam needs to strengthen measures to achieve the sustainable development of seafood exports to the EU market, especially after the EVFTA comes into effect, according to experts.



Positive prospects for Vietnam’s stock market this year


Prime Minister launches New Year tree planting festival

Vietnam supports expansion of UN Security Council

Vietnam supports the expansion of the United Nations Security Council (UNSC) in terms of both permanent and non-permanent members, with the fair representation of groups of nations, especially underrepresented ones, taken into account.

About 9 million Vietnamese travel during Tet

The tourism sector served about 9 million domestic tourists in the week-long Lunar New Year (Tet) holiday, up about 47.5% over the previous Tet, according to the Vietnam National Administration of Tourism (VNAT).

Five players compete for 2022 Vietnam Golden Ball Awards

The top 5 players in the final round of the Vietnam Golden Ball Award 2022 have been officially revealed.

Vietnam's steel industry to gradually recover in 2023

Domestic steel demand is expected to keep falling due to the property market slump and tightened monetary policy, economic downturn in many export markets and a rise in supply making the outlook for the industry in 2023 poor, analysts said.

Railway network aims to turn tide against low-cost airlines, cars with improved service

The railway industry is striving to regain its past glory after decades of struggling to compete with low-cost airlines and flexible car transport.

HCM City to pilot issuance of electronic civil status records

The HCM City Department of Justice has proposed the Ministry of Justice pilot the issuance of electronic civil status records instead of a paper version as part of efforts to enhance satisfaction with civil status registration.

Spiritual sites to visit in spring around Hanoi

Some of our recommendations might be the perfect place for you and your loved ones to spend the spring.

Huong Pagoda crowded on the first day of spring festival 2023

Despite the cold weather, thousands of people flocked to the Huong (Perfume) Pagoda Festival in Huong Son commune, Hanoi’s outlying district of My Duc on the opening day to celebrate the new year.

Data centers: Vietnam's bright spot

Under the impact of Covid-19, many activities have moved to online platforms and amount of data uploaded has been increasing.

More Vietnamese scientists returning to home country

More Vietnamese scientists decided to return to the country with a desire to devote themselves to their homeland’s growth.

Hoang to defend WBA belt in hometown next month

Truong Dinh Hoang announced the bout on his Facebook page on February 26, though the challenger has yet to be named.

Sea tourism and expectations for a 'made in Vietnam' fleet

The number of cruise tourists accounts for only 2-3% of the total number of international visitors to Vietnam.

Hanoi’s tourism sector rakes in over VND1 trillion during Tet holiday

The capital expects to welcome roughly 332,000 visitors, including 32,000 international guests, during the Lunar New Year holiday from January 21 to January 26, with total revenue anticipated to reach more than VND1 trillion.