Vietnam seafood exports in the first 10 months of 2022 reached 9.4 billion USD
11:38 11/17/2022

( With an export turnover of 21 million USD, Vietnam became the second largest seafood supplier in Switzerland, after Norway.

Vietnam’s seafood exports to the UK are expected to pick up in the remaining months of this year with the full-year revenues projected to increase by 5% over last year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

( Vietnam's seafood exports in the first half of 2022 achieved a record high growth rate of 40%, despite global inflation and geopolitical instability. However, from July 2022, along with the difficulty of raw materials, the shadow of inflation seems to have begun to obscure the overall picture of Vietnam's seafood exports. Inflation and dollar appreciation are weighing on the seafood consumption in markets, especially large markets such as the US, EU, China, UK...

( Thanks to the increased consumption demand of the foreign market, the seafood processing and export activities in Binh Thuan province have recovered and prospered again in the first months of 2022.

( On August 24, the Vietnam International Seafood Expo - Vietfish 2022 organized by the Vietnam Association of Seafood Exporters and Producers - VASEP opened at the Saigon Exhibition and Convention Center (SECC) - 799 Nguyen Van Linh, District 7 (HCMC).

( The seafood export markets of Ca Mau province has recently been expanded thanks to free trade agreements. In particular, this year's seafood export turnover of Ca Mau has increased by more than 42% over the same period.

( The USD is increasing in value, causing the JPY and EUR to depreciate too much against the USD. This may cause disturbances in the world currency market and affect the import and export of goods, including seafood of Vietnam.

( After reaching “hot” growth from 39% to 62% in the first 4 months of the year, Vietnam seafood exports since May showed signs of cooling down. Accordingly, seafood exports increased by 34% in May and by 18% in June. Seafood exports in July continued the trend with the export value of 970 million USD, increasing by 14% compared to the same period in 2021 but decreasing 4% compared to the previous month.

( In the first 6 months of 2022, Dong Thap Province’s exports of seafood products and rice had impressive growths. The traditional markets are maintained and strengthened while a new trend of shifting markets (from Asian market to Europe) appeared.

( Vietnam's pangasius exports in the first 6 months of the year recorded a growth in almost all major markets. The total export value of pangasius reached 1.42 billion USD, up 82.4% over last year’s same period. However, from Q3/2022, this growth rate is expected to slow down in some markets.

( According to the statistics of Vietnam Customs, Vietnam tuna export turnover in June 2022 reached $90 million, up 41% compared to June 2021. Accumulated in the first 6 months of 2022, tuna export turnover reached US$553 million, up 56% over the same period in 2022. Tuna exports to main markets recorded positive growths, except for the EU, Israel and Egypt.

( According to Directorate of Fisheries, Vietnam fisheries production in the first 6 months of the year was estimated at 4,196.8 thousand tons, increased by 2.5% over the same period last year (in the second quarter of 2022, it reached 2,333.3 thousand tons, up 2.9%), including: Fish reached 3,044.4 thousand tons, up 1.7%; shrimp reached 520 thousand tons, up 9.4%; other marine products reached 632.4 thousand tons, up 1.2%.

( Despite the slowdown in growth rate, Vietnam seafood exports in June 2022 still brought in over 1 billion USD, equivalent to May 2022 and up by 23% over the same period last year. Thus, in the second quarter of 2022, the country's seafood exports recorded sales of over 3.2 billion USD, nearly 36% higher than 2.4 billion USD in the same period in 2021.

( In recent years, the fishery economy has been invested and exploited effectively by Ben Tre province, making an important contribution to the overall economic growth of this province.

( In the first 5 months of 2022, Vietnam’s seafood exports to the US reached nearly 1.1 billion USD, an increase of 65% compared to the same period last year. Vietnam seafood exports to this market is expected to gain 2.4 - 2.5 billion USD in 2022 , going up by 25% compared to 2021.