According to the Việt Nam Association of Seafood Exporters and Producers (VASEP), in the first eight months, the seafood export value reached nearly US$6.3 billion.
Việt Nam’s seafood exports remained heavily dependent on natural sources, which have become increasingly difficult to secure due to tightening regulations and limited local marine farming, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Seafood exports in the first half of the year were worth US$4.4 billion, up nearly 7 per cent year-on-year, according to the Việt Nam Association of Seafood Exporters and Producers (VASEP).
VASEP reported that a slight increase in the seafood export value in the first half of this year over the same period, being a positive sign for this industry.
Việt Nam’s seafood exports during the first four months of the year reached $2.7 billion, up 6 per cent, with exports of many products seeing positive growth in April.
Seafood exports were worth nearly US$2 billion in the first quarter, 8 per cent up year-on-year, according to the Việt Nam Association of Seafood Exporters and Producers (VASEP).
But positive signals have been seen in the early months of 2024, with a 64 per cent increase in demand compared to the same period in 2023, reaching $750 million.
Given global economic difficulties and high interest rates, consumers will not be really strong in their spending decisions, and global seafood consumption demand is unlikely to increase sharply, according to VASEP.
As a landlocked country, Switzerland has to import almost all of its seafood. Việt Nam is the fourth largest seafood provider for Switzerland, after Norway, France and the Netherlands.
The Ministry of Agriculture and Rural Development has lowered its target for seafood export value for 2024 to US$9.5 billion from its previous expectation of $10 billion due to many challenges.
The fishery industry is gradually showing positive performance as the decrease in export turnover in September and October has slowed down compared to the previous months.
In the best scenario, seafood exports in the remaining five months of 2023 may reach over US$4 billion, bringing the total export value in 2023 to $9 billion.