Wednesday, 13/11/2024 16:28 (GMT+7)
Vietnam’s seafood exports were valued at over 1 billion USD in October 2024, according to the Ministry of Agriculture and Rural Development.
If the export value reaches 1.8 billion USD in the remaining months of the year, the seafood sector will exceed the year’s plan of 10 billion USD, said Mr. Phung Duc Tien, Deputy Minister of Agriculture and Rural Development.
In the fourth quarter, right from the first month (October), seafood exports reached over 1 billion USD, a year-on-year rise of 28%. For the first time in more than two years (since June 2022), monthly seafood exports have returned to 1 billion USD.
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| Processing seafood for export. (Illustration photo: VNA) |
According to statistics from the Ministry of Agriculture and Rural Development, seafood export value in October 2024 was estimated at 1.1 billion USD, bringing the total value in the ten months to 8.33 billion USD, a year-on-year rise of 12%.
The US, China and Japan are the three largest markets for seafood products in Vietnam, accounting for market shares of 18.5%, 16.8% and 15.4%, respectively.
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), in recent years, the US has always been the largest seafood import market of Vietnam. Seafood export turnover to this market in the past five years has fluctuated from 1.5 to 2.1 billion USD per year.
In spite of facing strict protection policies such as anti-dumping tax and anti-subsidy tax, the demand of the US market is still very large. Along with that, the quality of Vietnamese seafood is improved, helping maintain and expand its position in this market./.
BTA