October 12, 2020
Vietnam's seafood exports contraction slow
Vietnamese seafood exports recorded US$6.03 billion in the first three quarters of 2020, down 3% from a year earlier, indicating recovery as the contraction was less than in the previous two quarters, Nhan Dan reported.
According to the Ministry of Agriculture and Rural Development, the decline were 14% and 9% in the first and second quarters. In September exports inched up 0.6% from a year earlier to US$820 million.
The United States, Japan, the European Union, China and the Republic of Korea are the top five buyers of Vietnamese seafood, making up 60% of total revenue.
Shrimp was the only product to record "decent growth" over the past nine months, making up 44% of total seafood export revenues, said VASEP, which represents domestic seafood producers and exporters.
Vietnamese catfish exports meanwhile declined with its export share falling to 17.6%.
Since the EU-Vietnam Free Trade Agreement (EVFTA) came into effect in August, Vietnam's seafood exports to the bloc grew slightly by 1%.