Seafood exports hit 8 billion USD in Nov 2018

According to VASEP forecast, the country’s seafood export in 2018 will reach the target with about 8.8 billion USD, increase 6% compared to 2017.

Vietnam Seafood Export Processing Association (VASEP) said that after increasing 3% in October, seafood export of the whole country in November continued to recover slightly with an increase of 3.6%. reached nearly 800 million USD, bringing the total seafood export turnover to the end of November 2018 to 8 billion USD, increased nearly 5% YoY.

VASEP shared that comparing to the same period in 2017, shrimp export in November continued to fall over 19%, only reached 290 million USD, total shrimp export by the end of November 2018 reached nearly 3.3 billion USD, down 7% compared to the same period last year.

In particular, exports of white shrimp accounted for 69% to 2.2 billion USD, down nearly 3%, export of black tiger shrimp accounted for 23% with 745 million USD, down nearly 8%. Expecting the shrimp exporting this year will reach about 3.6 billion USD, down 5% compared to 2017.

In return, Pangasius export have been maintained a positive growth of 32% in November to reach 212 million USD, bringing the export results in Nov to over 2 billion USD. This upward trend will continue in the coming months and is expected to reach a total value of over $ 2.2 billion in 2018, up 22% compared to 2017.

Export of tuna, octopus and other seafood tended to increase in the end of the year, in which tuna still increased by 11% in November, octopus rose by 30%, equivalent to USD 60 million and USD 67 million .

Total export of tuna and squid and octopus in Nov reached respectively 600 million USD and 609 million USD, up by 11% and 7% respectively over the same period last year. Each of these products is expected to bring in turnover of USD 660 – 680 million this year.

“With the current growth momentum, it is expected that the country’s seafood export in 2018 will reach the target with about USD 8.8 billion, increase 6% compared to 2017,” VASEP forecast.

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