Seafood export revenue may reach US$8.2 billion this year

Ho Chi Minh City - Total export turnover of seafood may amount to a staggering US$8.2-8.3 billion in all of this year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

Outbound sales of seafood products in the year to October had totaled US$6.73 billion, a year-on-year rise of around 18%. The result prompted VASEP to adjust up its July forecast of about US$8 billion.

Vietnamese exporters are finding it tough to ship their tra fish (pangasius) products to the United States, and seafood products to the European Union. However, shrimp exporters have seen strong growth in their sales.

The sector in the January-September period experienced sharp rises in seafood exports to China (up 66% year-on-year), the Netherlands (43%), the United Kingdom (roughly 30%), South Korea (28%), Japan (25%), and Canada (23%). However, Asia was still the main market for Vietnamese seafood.

Earlier in 2014, seafood products brought in US$8 billion in outbound sales. However, the figures for the two following years were around US$7 billion a year.