Seafood exports from Vietnam are estimated to have increased in value by more than 4 percent in the first eight months of this year, achieving a total value of USD 4.3 billion (EUR 3.9 billion), according to the Ministry of Agriculture and Rural Development (MARD).
The United States, Japan, China and the Republic of Korea remained largest consumers of Vietnamese products, accounting for a combined 53.4 percent market share in the July through August 2016 period.
Export markets showing the most growth were China with an increase of 53.9 percent year-on-year, the United States with 11.9 percent, Thailand with 9.9 percent and the Netherlands with 8.4 percent.
Meanwhile, the value of the Southeast Asian country’s seafood imports last month has been estimated at USD 108 million (EUR 97 million), putting the total import value for the eight-month period at USD 691 million (EUR 620.5 million), down 3.9 percent year-on-year.
India has been Vietnam’s No. 1 seafood supplier so far this year with a 26.4 percent market share, while Norway, Taiwan, Japan and China have market shares of 9.8 percent, 9.2 percent, 6.3 percent and 6.1 percent, respectively.
The domestic consumption of pangasius in August was slow despite low market prices, while shrimp prices in Ca Mau province have increased slightly as a result of limited supply, said MARD.
The value of Vietnamese seafood exports is expected to reach USD 7.1 billion (EUR 6.4 billion) this year, a rise of 8 percent over 2015, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
