May 29, 2007

Vietnam's seafood exports soar in January-May 2007

Vietnam is estimated to have generated US$320 million from seafood shipments in May to bring the country's total seafood export revenue roughly by US$1.3 billion in the first five months of this year, up 16.2 percent on-year according to the Ministry of Fisheries (MoF).

Amid shortage of raw materials, Vietnam's seafood continues to post strong performance as export gains are seen to reach US$3.6 billion for this year, posting an increase of 7 percent from 2006.

The country is boosting exports to traditional markets like China, the US, the EU, Japan, Canada, and South Korea, and is developing new ones such as the Middle East, Eastern Europe, Africa, and South America to achieve the target earnings. 

Vietnam currently ranks the seventh largest exporter and fifth biggest producer of seafood products globally, according to UN Food and Agricultural Organization (FAO) statistics.

FAO statistics also placed Vietnam 12th on the list of fish catching nations during the time.