Vietnam seafood exports in 2013 outreached the target of USD 6.5 billion (EUR 4.7 billion) to reach USD 6.7 billion (EUR 4.9 billion), according to recent data from the Vietnam Association of Seafood Exporters and Producers (VSAEP). The increase was attributed to a great contribution from shrimp exports with more than USD 3 billion (2.1 billion), making up 46 percent of the country’s total seafood exports.
Vietnam shrimp exports, particularly whiteleg shrimp saw great success in 2013 thanks to stable supply compared with China, Thailand and high shrimp price in large markets such as Japan and the U.S. Vietnam whiteleg shrimp exports for the year rose 113 percent year-on-year to nearly USD 1.6 billion (EUR 1.2 billion).
The country’s pangasius industry in 2013 faced some difficulties due to instability in fish supply, low demand and low price. However, pangasius exports still reached more than USD 1.7 billion (EUR 1.2 billion), equating to that of 2012.
After the positive growth of 2012, exports of tuna, cephalopod and other marine products in 2013 reported a continuous reduction. Lack of domestic raw material, low demand from foreign markets caused by high inventories, hiking import duty and technical barriers led to deep dive in marine product exports, 7.2 percent reduction in tuna exports and 11 percent decline in cephalopod exports.
In the second half of 2013, seafood exports to markets recovered, mainly due to a sharp increase in shrimp exports. China claimed to the fourth position in importing Vietnam’s shrimp and other seafood products with year-on-year growth of 49 percent and 37 percent, respectively.
According to VASEP, Vietnam seafood exports in 2014 will surpass the export turnover of 2013 if the quality of shrimp seed is ensured and chemicals and antibiotics in aquaculture and exported products are closely controlled. Shrimp sales in 2014 are expected to remain higher than USD 3 billion with the target of USD 3.5 billion (EUR 2.6 billion). Exports of pangasius, tuna, cephalopod and other marine products in 2014 are likely to recover because it is expected that global demand for the items may increase slightly amid gradual improvement in global economy.
