August 15, 2008

 

Vietnam's slow seafood sales to the US drag export growth
  

 

Vietnam's seafood exports to the US were at their weakest in June for the past 16 months, dragging down the country's export growth potential.

 

The pace of growth in Vietnamese shipments to the US has not accelerated since January.

 

Weaker exports may make it more difficult for Vietnam's government to achieve this year's 7-percent economic expansion target, observers said.

 

Vietnam's seafood exports to the US increased 5 percent, the slowest pace since November, as fish and prawn farmers face difficulties getting loans amid central bank efforts to slow credit growth.

 

Nguyen Thi Huong and Tran Quoc Quan, Vietnam-based analysts at the US Foreign Agricultural Service, said in a report that there is concern that output falls short of both processing capacity and export targets.

 

The report also stated that some processing plants are lying idle or operating at well below optimum capacity.

Video >

Follow Us

FacebookTwitterLinkedIn