The export turnover of aquatic products topped 8.5 billion USD in the first nine months of 2022, up 38% year-on-year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
In September alone, the export value is estimated at over 850 million USD. Although it is still 36% higher than the same period last year, this is the first time after seven months the exports fall to below 900 million USD.
Le Hang, deputy director of the VASEP’s Trade Promotion and Training Centre, said that inflation has reduced the import demand of foreign markets, including Vietnam’s main importers.
In the first nine months, the export values of shrimp, tra fish, and seafood reached nearly 3.4 billion USD, 2 billion USD, and 3.2 billion USD, up 23%, 82%, and 33%, respectively. In September, tra fish exports posted the highest growth rate at 97% to 161 million USD.
The country’s export of aquatic products to China hit 153 million USD last month, up 97% y-o-y, but down 1.4% compared to that of July.
Meanwhile, earnings from the US decreased by 11% y-o-y to 140 million USD.
In January-September, the US remained the largest importer of Vietnamese aquatic products, with nearly 1.8 billion USD, up 22% y-o-y.
The VASEP forecast that by the end of November, the sector can fulfill the yearly target of earning 10 billion USD from aquatic exports.