Seafood exports edges up to 2,4Bln
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Seafood exports rose by 2.8 percent year-on-year in the first nine months of the year to US$2.4 billion, according to the Vietnam Association of Seafood Exporters and Producers.
Tuna, squid and octopus accounted for the highest proportion of the exports.
Bivalve mollusk exports soared 39 percent to $99.6 million.
The five biggest markets for squid and octopus were Korea (accounting for 41 percent), 11 member countries of the CPTPP (24 percent), Thailand (11 percent), EU (10 percent), and China (7 percent).
In September alone, exports fell by 24 percent year-on-year, after falling by 24 percent in August, due to social distancing restrictions.
VASEP expects the figure to also decline in October.
Questions & Answers
Q.What were the main drivers behind the increase in seafood exports?
What were the main drivers behind the increase in seafood exports?
The rise in seafood exports was primarily driven by tuna, squid, and octopus, which constituted the largest proportion of total exports. Bivalve mollusk exports also saw a significant increase, soaring by 39 percent to nearly $100 million.
Q.Which markets were most significant for squid and octopus exports?
Which markets were most significant for squid and octopus exports?
Korea was the largest market for squid and octopus, accounting for 41 percent of exports. Other key markets included the 11 CPTPP member countries (24 percent), Thailand (11 percent), the EU (10 percent), and China (7 percent).
Q.Why did seafood exports experience a decline in recent months?
Why did seafood exports experience a decline in recent months?
Seafood exports fell in both August and September, decreasing by 24 percent year-on-year in each month. This decline was primarily attributed to the social distancing restrictions in place during those periods, and further decreases are anticipated for October.
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