China emerges as largest export market for Vietnamese seafood

Statistics indicate that the country earned more than US$7.2 billion from seafood exports over nine months, up 9% year on year.

The five largest export markets for local seafood brought in US$5.1 billion, accounting for 70% of the total seafood export turnover throughout the reviewed period.

China and Hong Kong (China) became Vietnam’s largest seafood export markets with a turnover of US$1.33 billion, followed by the US - US$1.32 billion, Japan - US$1.1 billion, the EU - US$781 million, and the Republic of Korea - US$568 million.

Most notably, shrimp and pangasius exports surged by 11% and 8% to reach US$2.8 billion and US$1.5 billion, respectively, in the initial nine months of the year.

Meanwhile, Vietnamese tuna exports rose by 18% to US$728 million, while crabs and other crustaceans exports soared by 67% to US$228 million.

In contrast, the export value of squid and octopus decreased by 3% to US$463 million compared to the same period last year

Experts pointed out that with robust growth enjoyed in September, seafood exports are likely to bring back US$9.5 billion this year, up 7% year on year.