November 25, 2008

Vietnam's seafood export hits nearly US$4 billion

Vietnam exported nearly US$4 billion worth of seafood products by November 14, 2008, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).


Vietnam shipped 1.054 million tonnes of seafood worth US$3.8 billion in January to October, up 39.4 percent in volume and up 24.4 percent in value. Frozen shrimps, catfish and frozen cuttlefish are the three key export items.


Frozen shrimp exports reached 158,527 tonnes, accounting for 35.4 percent of total exports, and had a value of US$1.354 billion. On a year-on-year basis, frozen shrimp shipments grew 22.5 percent in volume and climbed 10.4 percent in value.


Exports of tra and basa catfish accounted for 32.4 percent in volume with 550,070 tonnes worth US$1.24 billion. Catfish exports grew 74.5 percent in volume and 53.3 percent in value from the same period last year.


For the first ten months of 2008, the EU was the largest importer, accounting for 25.3 percent of Vietnam's total seafood export revenues with nearly US$970 million, up 29.3 percent on-year. The EU also imported US$487.51 million worth of Vietnamese catfish, up 23.4 percent on-year.


Japan was the second largest importer, buying 18.1 percent or US$693 million worth of Vietnamese seafood, up 14.4 percent on-year, with Vietnamese shrimps being the most popular item.


The US ranked third, importing US$624 million worth of Vietnamese seafood, up 5 percent on-year.


Russia, Ukraine and Egypt also imported a combined US$341.9 million worth of Vietnamese seafood during the period.


Vietnam expects to increase total seafood export revenues to US$4.3 billion by year-end.

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